We get a lot of questions about Real Estate in Santa Clarita. This week we’re answering your question what are comparables (Comps)?
A: These are referred to as recently sold properties that are similar in size, location, and amenities to the home for sale. These properties help an appraiser determine the fair market value of a property. Real estate agents and appraisers have differing notions about comps. Foreclosures and short sales play a tricky role in selecting comps.
