When it comes to determining your home’s fair market value, nothing carries more weight than comparables, or “comps.” Whether you’re refinancing, selling, or securing a home equity line, an accurate appraisal hinges on choosing the right comps. This guide will explain what comps are, how appraisers select them, and how you can help ensure a smooth, accurate valuation.
Comparables (“comps”) are recently sold properties similar to yours in key aspects—location, size, condition, and amenities—and they serve as the benchmark for your home’s value. Appraisers typically use at least three closed sales within the past 3–6 months that are geographically close to your property realtor.com.
Access to MLS Data - Most appraisers pull comps directly from the Multiple Listing Service (MLS), ensuring they use verified, arms-length transactions. Public records may supplement MLS data when needed appraisaltoday.com.
Bracketing Method - To account for differences, appraisers often bracket the subject property by including:
Adjustments for Differences - If a comp has features your home lacks (or vice versa), appraisers make dollar-value adjustments. For instance, if your home has an extra bathroom, they subtract the estimated cost of that bathroom from the comp’s sale price.
Market Trends & Timing - In rapidly changing markets, older sales may require upward or downward adjustments for timing. Appraisers document these adjustments to reflect current conditions.
Research and share 3–5 recent nearby sales that mirror your home’s characteristics.
Supply invoices or permits for major improvements (e.g., new roof, HVAC). This helps avoid negative adjustments.
If your home has a rare feature—such as a private dock or solar panels—provide comparable sales with similar amenities.
Conclusion
Comparables are the backbone of any home appraisal. By understanding how they’re selected and adjusted—and by actively assisting your appraiser with accurate, organized information—you can help ensure a smooth, fair valuation of your property. Mastering comps puts you in control of your home’s financial destiny.
Note: This content was generated with AI assistance and reviewed by an experienced appraiser for accuracy.
5 Key Steps in the Home Appraisal Process
Helping Hampton Roads homeowners understand what to expect when ordering a home appraisal
The process starts with you! Simply order your home appraisal through our secure online form. You’ll provide basic property details—address, type of loan, and desired turnaround time—and we’ll confirm your fee quote and appointment window within 24 hours.
Tip: Be sure to include your property’s full street address exactly as it appears on your deed to help us match municipal records quickly.
Once your order is in, we gather public records and recent sales data (known as “comps”) for homes similar to yours. We consult multiple sources—county tax records, the MLS, and tools like the Appraisal Foundation’s Official Site—to ensure we’re using the most up-to-date information.
Tax records confirm lot size, year built, and ownership history.
MLS and sales databases provide sale prices of comparable homes in your neighborhood.
Automated Valuation Models (AVMs) may give an estimate of a possible sales price but in many cases the “comps” used in these models are not locationally comparable. Additionally, these models use comps that are not completely verified and they never consult the selling agents that know your particular neighborhood.
Next, we visit your property to:
Determine your gross living area and we observe your site’s features.
We Inspect interior features (bedrooms, baths, kitchens and any upgrades).
Evaluate condition—roof age, HVAC, foundation, and any deferred maintenance.
Photograph key elements (interior, exterior, and comparable properties).
This firsthand inspection ensures no important detail—like a new deck or finished basement—gets overlooked.
Back at the office, we reconcile all gathered data to arrive at a final value. Our analysis includes:
Sales Comparison Approach
Cost Approach (especially for new construction)
Income Approach (for rental properties or multi-unit homes)
By triangulating these methods, we deliver a well-supported appraised value that stands up to lender reviews and tax assessors alike.
You’ll receive a comprehensive appraisal report within 3-5 days after the inspection date. It includes:
Final value conclusion
Market trends and neighborhood analysis
Detailed comparables with sale prices and adjustments
Photographs of both interior and exterior
Appraiser’s certification and signature
You can review the report immediately and share it with your lender, attorney, or tax consultant. If you have any questions or wish to challenge an item, we are happy to discuss the findings.
Local Expertise: Decades of experience in Hampton Roads real estate.
Fast Turnaround: Secure online ordering and same-day confirmations.
Accuracy You Can Trust: Fully compliant with USPAP standards.
Ready to get started? Request your appraisal today and gain confidence in your property’s true value!
How long does an appraisal take? Typically 3–5 business days after inspection. Rush options are available.
Can I attend the inspection? Absolutely! We welcome homeowners to point out upgrades.
What if I disagree with the value? Contact us for a free consultation—we are happy to discuss your concerns.