Comping a flip in a neighborhood with few recent sales
Category: House Flipping
1 replies
Original post
Trying to nail down an ARV for a flip in a neighborhood that hasn't had a comparable sale in over a year. Appraiser is struggling too. How do you build confidence in your numbers when the comps are this thin?
Reply by Christina Calderon
You may have to get creative here. Look at similar neighborhoods in the metro area. Look at similar metro areas, and comparable neighborhoods there. Look at the sales that did occur, and extrapolate even if they aren't quite comparable.All you can do is your best here, definitely harder when the comps are sparse.