Comparables: We
have 3 different ways to search for comps:
1. An Automatic Search
The comparables button looks for the best 30 sales with the following criteria
(if available)... recent sales within one year, in the same geographic area,
same land use, same improvement type, same property type and within 20% square
footage range plus and minus of the subject improvement.
The search has some intelligence based upon the number of results it finds.
If it finds too many comparables it will shrink its parameters and finding too
few it will expand the parameters. For instance, it may look within one
mile but if the number of results comes back with too few results it will try
two miles.
2. A Manual Search
The search similar button allows you to choose which parameters you wish to
include or exclude, therefore finding more specific results. Down
the left hand side there is a check box which if checked tells the computer to
include the field in the search. Down the middle of the screen in green text is
the subject information.
The range on the right is how much difference from the subject you are
willing to go. For instance, on square footage a 7.5% range from a
subject of 1000 square feet would search 925 to 1075 square feet.
The width on the right is simply how many of the number or letters it
will take from that particular field. For instance, on the subdivision
name WEST PARK HILLS…taking the width of 4 would search on WEST…taking
the width of 9 would search on WEST PARK…taking the width of 15
would search on WEST PARK HILLS.
Each has its own advantages but they could return different results depending on
the names of subdivisions in your county.
The BIG rule of thumb to remember is that typing in more search
parameters will result in fewer results returned.
3. Create your own from the regular search options menu
Create your search from the regular search options menu. Find your subject
property and print it out. Then click on .
All the information you choose to search on will come from the subject printout.
Start by choosing part of the parcel number.
For instance, the first 3 digits or maybe even the first 5 digits. (Remember
giving the search more will return fewer properties 3 digits results more
properties then 5 digits).
Then choose the same land use code and the same improvement type.
Type in a desired square footage range.
If the results return too many properties then click your back button and add
more criteria to your search in order to return fewer properties. If the results
do not return enough properties then click your back button and remove criteria
for your search in order to return more properties.