Measuring comps ?

[Pamela Crowley (Florida)]

Have you EVER measured a property that you were only going to use as a comp?

If yes, how often have you done this and how did you get permission from the owner(s) to do this?

 

[Randolph Kinney]

I have done it once, in Escondido, a 4-plex each unit was 900 SF one bedroom & one bathroom.

All buildings were detached, identical, all square, 300 feet on a side.

I had a small wheel measure. I knocked on one unit, asked to look inside and if I could walk around the building. Tenant said sure, go ahead.

The sale was reported on the MLS with out the GLA, BR/BA. The rent was reported on the MLS and I also verified that with the tenant.

 

[Wayne Tomlinson]

I have on a few occassions when there was no data and the supply of comps with data was lacking.

In a nearby town, the MLS measurements are so bad sometimes, and the assessor is not much better, I have found it necessary.

Wayne Tomlinson

 

[CCAAMO]

I've done it quite a few times over the years when it was a good comparable but there was no s.f. data. The vast majority of the time they were units or commercial/industrial properties but I have measured a couple of homes when I had access.

 

[Stone]

I didn't vote because I've done it several times, but hardly all the time.

 

[TC]

Are you nuts, half the time I don't even measure the subject.

Skip

 

[Ms. Janet]

Are you nuts, half the time I don't even measure the subject.

Skip

 

[Mztk1]

In Jersey I measured the comps. Permission? I never asked just did it and if someone stopped me I'd tell them what I was doing. Never had a problem. In Florida most houses in PR and it is mostly accurate. I didn't vote because I used to do it nearly every time but now hardly ever do.

 

[TJSum]

Ditto Jim...

Up until the mid to late 90's most of Maryland did not have GLA on tax records, it was pretty much SOP up until that time.

For the most part, we would measure the front of the house from the front sidewalk, if no one came out or it looked like no one was home, we would usually walk along the property line to the side to measure the side. I wouldn't venture closer without permission. Usually if someone was home, they would come out while we were measuring the front, then you could get permission to get closer.

Even today, when shooting that comp pic, you should make sure it matches the tax records and be on the lookout for newer additions, bump outs on cape cods, etc.

 

[Brian Weaver]

When I was in private practice I would do it for commercial assignments where possible. Mostly for multi-family comps. Nobody much paid attention to some guy walking around a building with a wheel or Disto. I'd also do it on Sundays for other commercial properties. Most office buildings were closed. I'm talking small buildings...under 20,000 Sq.Ft.