If you have met with an agent, you may have heard a lot about “Comparable Sales”. If you are wondering what exactly this term means, you have come to the right spot. Comparable sales are the recent sales of properties similar to yours in a nearby neighborhood. In a more simple term, they are “comparable” to your Lake Tahoe home, or one you are buying.

Knowing the comparable sale method is one of the best ways to determine the market value for residential properties. If you are a seller, the listing agent you select will come up with a sales price by showing you recent sales comparable to your property. If you are buying a home in Lake Tahoe, your agent will help you with an offer price based on comparable sales and current market conditions.

Finding comparable sales is usually quite easy. Occasionally, some adjustments will need to be made depending on upgrades, market changes and different Lake Tahoe home styles or when there is a mix of brand new homes and old outdated homes. If you are unable to find a comparable sale, it will  not affect the market value of the home, but it can in some cases impact a buyer’s ability to find a lender.  This is where an experienced agent comes in handy. They have access to first hand information on what lenders are giving loans in specific areas.  If you are interested in finding out the comparable sale and market value of your property, call Peter Delilli at 530-308-4331.