Most of the time, listings are nothing more than a side salad in the appraisal industry. Just like a salad just doesn't seem to fill you up, listings just don't tell you enough. This is because anyone can list their home at whatever price they want, but let me tell you when listings matter.
Listings matter when you don't have any comparable sales to set the market value. Let me explain.
My assignment was to appraise a home that was close to the freeway. This home is one home in a small development of newer homes. The home was a 1.5 story home with square footage that was more in line with the 1 story homes in the area. Typical two story homes offered much more square footage than the subject. The development was (Planned unit development) PUD, which resulted in newer homes that are located on smaller lot sizes.
The development is too small to support any recent sales (sales within 1 year). The surrounding area offers older homes located on much larger lot sizes. All of the homes in the immediate area offer one story, newer homes located on smaller lot sizes or older homes that offered larger lot sizes. In other words, there are no real comparable properties to the subject.
The subject property is non-conforming in design, square footage, lot size and location. There just happened to be two listings in this development. One of the listings was identical to the subject. This is when listings matter. This listing and one additional listing in the development that helped sets the value range.
From this point, I begin to look in other developments that are over one mile from the subject that offer any similarities. Soon, a pattern emerges and the value is supported by the most relevant homes. The most recent, relevant comparable sales in cases like this are usually just newer homes that offer somewhat similar square footage and garage count. And they usually support the listing in the area, because if they don't the appraiser is going to ฝากขายทาวน์เฮ้าส์ have to explain why the listings in the area offer a significantly different price than the sales outside the area.
If you are buying a home, make sure you look at the listings of homes in the area and be sure that they offer true comparable sales with similar square footage. Only make an offer once you have reviewed the listings and the sales in the area.
If you are selling your home, look at the listing in your area and see what your home has to offer that other don't and set your price accordingly. If you list too high, you may not sell your home. If you list too low, you will be given away your hard earned money.
If you are refinance, the appraiser will look at the listings as this related to the sales in the area. Listing price vs sales price will be determined. The sales will always be given more emphases than the listings. This is because the anyone can list their home at whatever price they feel, regardless of whether it sells but make no mistake about it, listing may help influence the final estimated value.
Listings in the area may help support the final refinance value or the sales price of your home. So do listings matter. Yes, they do.
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