comparable sales

Definition

Recently sold properties similar to yours that allegedly determine your home's value, though somehow the appraiser always picks the worst examples when you're selling and the best when you're buying. It's objective data filtered through suspiciously convenient selection.

Example Usage

According to comparable sales, my renovated Victorian is worth the same as the fixer-upper three blocks away.

Source: Real estate appraisal terminology

Related Terms

Intermediate

dual agency

When one agent represents both buyer and seller in the same transaction, creating a conflict of interest wrapped in a commission opportunity. It's like having the same lawyer represent both parties in a divorce.

🏠 Real Estate

Intermediate

commingling

The illegal practice of mixing client funds (like earnest money) with personal or business operating accounts, a violation that can cost real estate agents their licenses. It's the financial equivalent of inviting the state licensing board to audit your worst decisions.

🏠 Real Estate

Advanced

replacement reserves

Funds set aside for replacing building components and systems that wear out over time, essential for multifamily and commercial property management. The 'we know the roof will eventually die' savings account.

🏠 Real Estate

Intermediate

price per door

The total acquisition cost of a multifamily property divided by the number of rental units, providing a quick metric for comparing deals. It's how apartment investors reduce complex investments to a single number they can text each other.

🏠 Real Estate

Beginner

warranty

A seller's promise that their product won't immediately explode or fall apart, though the fine print will explain in excruciating detail all the ways you can void this promise. This legal guarantee assures buyers that goods or property meet certain standards and provides recourse if things go wrong—assuming you kept the receipt, didn't use it wrong, and performed ritual maintenance every third Tuesday. Extended warranties are the profitable cousin that exists solely to make you second-guess your purchase.

🏠 Real Estate

Advanced

euclidean

Relating to the traditional geometry you suffered through in high school, where parallel lines never meet and the shortest distance between two points is a straight line. In real estate zoning, it refers to strict geometric separation of land uses—because apparently houses and corner stores can't peacefully coexist. Named after Euclid, the ancient Greek mathematician who never had to deal with modern city planning committees.

🏠 Real Estate

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assessment

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