Hey folks, Mike Giampa here with DC Metro Appraisals.
I’ve been a state-certified residential appraiser for 32 years, a real estate broker for 29 years, and I hold a degree in real estate. It’s literally the only real job I’ve ever had – I eat, sleep, and breathe this stuff.
One of the most common questions I get is: “Mike, why did you use those comps and not the higher ones I found?”
Here’s the straight answer:
A good comparable sale is the most recent, similar home that has sold in your immediate neighborhood – hopefully within the last 6 months.
That’s where I always start.
Why recent? Because our Northern Virginia market can swing wildly in just one year. A sale from two years ago might as well be ancient history.
Beyond recency, the top three things I look for are location, similarity, and condition.
I start inside your subdivision in Fairfax or Prince William County – full stop. If there are no recent sales there, I expand out but try to stay within 1 mile max.
It’s almost never needed in Fairfax because there are so many sales, but out in western Prince William County it happens a lot. Homeowners out there rarely complain – they know comps can be sparse and usually agree those farther ones are the best available.
Why do I skip certain sales, even if they’re close?
Big differences in age, condition, size, or bedroom count are the usual deal-breakers. I’m not trying to hit a magic number – I’m building a credible case that has to hold up to scrutiny.
In lender work, I have to convince the underwriter (and sometimes VA, FHA, or GSE reviewers) that my opinion of value is rock-solid.
In private work – divorce, estate, tax appeal, pre-listing – it’s the same standard, but with even more detail. In divorce cases especially, my job is to make sure my report is the one the judge accepts as the most accurate and credible. So far, I’ve never had one of mine thrown out. I can’t cherry-pick the highest sales just to make a number look better. That’s not how credible appraisals work.
Bottom line after 32 years and thousands of reports: I pick the comps that best reflect what a real buyer would compare your house to today – nothing more, nothing less.
If you need an appraisal where the comp selection actually matters – divorce, date-of-death, estate, tax appeal, or pre-listing in Fairfax County or Prince William County – give me a call.
I’m passionate about this work and make myself available 24/7, 365 days a year. Call, text, or email anytime.
Mike Giampa
Certified Residential Appraiser – DC ∙ Maryland ∙ Virginia
DC Metro Appraisals
Private appraisals only
703-350-2542 mtg@myappraisalservice.com