The BBBG Formula & The 5 Point Condition Factor
You have comps based on (1) CATEGORY:
3 beds, 2 beds, 1 beds, etc.
Full, 3/4 or half baths
Basements or not
Garages, carports or street
I call it the BBBG Formula (bedrooms, bathrooms, basements & garages). It should be the basis of your initial comparison.
Yes, I know…age, square footage and construction type (stick or brick) matter too
Next…
You have comps based on (2) CONDITION:
New construction
Fully rehabbed
Livable and clean
Livable, needs work
Complete beater
These range from “highest price” at the top to “lowest price” at the bottom. You can’t compare a “beater” to “new construction” and think you’ve just comped the house
Stupidly Not As Obvious As “Some” Suggest