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Louisville Home – What Is Comp and Why Does It Matter To You?

By Family Realty, LLC

Before you list your Louisville Home for sale one word you will hear mentioned in connection with your home is the word COMP.

Comp is short for “comparable” and it’s a method your agent will use to appraise your home so you can sell it for what it’s really worth.

Determining a Home’s Real Value

Besides reviewing the sales of other “similar” homes in your neighborhood, or town, your agent will also appraise your home and determine its real value based on the size, style and location of your home.

Recent Homes Sold

When an agent reviews the sales of homes which were recently sold in your neighborhood they will typically be reviewing homes which have sold within the last 90 days or less.

Some agents might also base their comps on homes which were sold as long as six months ago so it’s best to verify how your agent determines their comps to make sure your home’s value is determined correctly.

Contact Family Realty LLC

To get started with finding out the real value of your home contact Family Realty, LLC today by calling us at (502) 458-4100 or CLICK HERE to connect with us online

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