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Distance, living space, age
that is what I go by.... Condition is adjusted.....
Unless you are comparing Palo Alto vs East Palo Alto the school does not enter the picture...... BTW: E Palo Alto students go to Palo Alto High but homes are about 1/3.
San Jose, CA
I agree with Gabe Sanders. If you have enough comps screen them, otherwise make adjustments.
If you have sufficient comps to screen out the others, than yes as your results would be more accurate. If not, consider making an adjustment for the differences.
White Plains, NY
Great answers you got.
Depends on how many you have to choose from.
All factors need to be considered when preparing a CMA.
You should try and get comps as close to the same as your home as possible, including using homes in the same neighborhood, school system, and city. If you can't find enough comps by doing that, then you can use others, but you will need to adjust the pricing.
If you are running comps, the comps must be in the same school district and same zip code as the subject property if it is to have any validity at all.
This is very good question.
If the Buyer has a preference in schools, I would focus on that area. If they don't have a preference, I would have 2 seperate comps. I try to have the comps in the same neighborhood or subdivision as the target property.
It seems to me if they are in different school district and different city, they aren't comps at all.
First i would use comps within the same school district. The problem with using comps in a different quality school is there is no set deduction other than if the lot is worth xxx amount less.
an appraiser would make adjustments for that feature....
You should focus on the comps that use the same school.