It's these differences like deeper back yards, general appeal of the improvements, the wall that was removed between the kitchen and dining room, etc. that often causes these differences in opinions. These are not factors that are often given proper consideration. There are hundreds of variables like these that are not reflected in the sales comparison approach grid. The only way to really account for these types of differences is when selecting comparable properties.
I think you nailed it with this comment.
The $1.1 million house is superior in every single way.
-Superior level lot and fence
-Concrete driveway that runs the length of the lot so you can exit from the front or rear
-Superior exterior siding, curb appeal, and roof
-On the interior, you have superior everything... flooring, windows, trim, doors, lighting, appliances, crown molding, and probably more too.
-It's got 3 baths versus the subject's 1. It has an en suite in the primary BR and
this alone makes it not a comp.
-The basement is larger and nicely finished vs the subject's 424sf unfinished basement.
-The $1.1m is a legit 4-bedroom home and all the bedrooms have functional ceiling heights and closets, which does not appear to be the case for the subject
Even if the Clarks was remodeled top to bottom it couldn't get to $1.1m because of the parking, basement, 1.5 vs 1 story, and lack of options for 3 baths including ensuite.
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Really? You pick these super ugly houses in a different area over the most similar 1910's bungalows on the street?
I do not pick those comps. But I think they are closer to the truth than the $1.1m house.
