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How to price a mailer without sold comps
I usually price my mailers on a zip code basis using either for sale or sold comps. The area I'm interested in, however, is a state in which sold comps are not shown on Zillow or similar sites. Unfortunately, the for sale inventory is not large enough to make an intelligent pricing decision. Is there a workaround or are there sites which show sold comps even in those states (e.g., Texas)? I suppose not since there will probably be legal reasons but wanted to ask nevertheless if you guys have an idea.
Arturo Arturo last edited by Arturo
The main outcome from that conversation was that, if you decide to operate in a non-disclosure State, all you can do is to "shape" your offer according to all the sources that you can find available and that may not include the SOLD comps. This essentially means, for example, to refer to a reliable local realtor and/or use active listing pricings from zillow, realtor and similar having care to discount them appropriately (and probably a book could be written on what "appropriately" means....). There are also software tools that can facilitate a lot the pricing part: priceboss and prycd are the two I know but a subscription is required.
I'm aware this might be not the answer that you were hoping for but I thought it could have been someway useful for you to know.
Have a great weekend and good luck!
Arturo Thanks for the input. That's pretty much what I thought. Yes, I was hoping for additional data sources but your input was still helpful. Good luck to you too!
Juergen Berrisch Juergen Berrisch last edited by
Johannes Pieper Are you looking for vacant land? If yes, you could use sold homes or homes for sale as starting point. Divide the selling/offer price by 5 and by land size to get a suitable price for sqft. Multiply the offer shots with that per sqft. And then go for it