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"Dont compare a Cottage to a Neighbor's Mansion: A Guide to Apples-to-Apples Property Comparison!"

Comparing your neighbor's sale price to your own property is like comparing apples to oranges - they may both be fruit, but they are not necessarily comparable. It's crucial to look for comparable properties in your area that are similar in size, type, square footage, condition, and other relevant factors.

For example, if you live in a cozy cottage and compare your property to a mansion on a hill, it's like comparing a Smart car to a Lamborghini - sure, they are both vehicles, but they are vastly different in size, power, and, let's be honest, price. Similarly, if you compare your property to a run-down shack that hasn't been updated since the 1950s, it's like comparing a rotary phone to a smartphone

- one may be nostalgic, but the other is much more valuable in today's world.


According to Realtor.com, when evaluating comparable properties, it's important to consider factors such as location, age, condition, and amenities. For example, if your neighbor's house sold for a high price because it has a stunning view of the ocean or a massive backyard with a swimming pool, it may not be comparable to your property, which may lack those features. It's like comparing a Michelin-starred restaurant to a fast-food chain - both may serve food, but they are vastly different in terms of quality and value.


So, the next time you're tempted to compare your property to your neighbor's sale price, remember to keep it apples to apples, Smart cars to Smart cars, and Michelin-starred restaurants to Michelin-starred restaurants. And, if all else fails, just remember that your property is like a fine wine - it may take time, but it will appreciate in value over the years!




Amanda Allen, Realtor, MRP - RE/MAX Landmark

www.AmandaAllenHomes.com - 903-603-0648

Thank you for reading! If you have any questions or want to learn more about the exciting world of real estate, don't hesitate to reach out to me. Whether you're a first-time homebuyer, a seasoned investor, or simply curious about the market, I'm always here to help. Let's make your real estate dreams a reality!

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