I want to sell my house! Now, what's a comp?

The home you've cared for and loved might seem incomparable to you, but when you sell (or get a home equity loan), someone is going to have to find a comparison.
In the language of real estate and mortgage that is called comps.
Comps help answer the biggest question on your mind and a lender's mind when you look to sell your house: What's my home worth?
The answer? It depends.
It's important to note that home values boil down to educated -- and sometimes uneducated -- guesses. They are merely opinions, with the one that truly matters being the bank's. Toward the end of the process, the buyer's bank needs to approve of the purchase price in order for the loan to be approved.
What goes into a CMA? I generally research recent sales of similar properties in your location; the best comps are within 90 days or less, though if you live in an area that's less populated, you'll likely use comps from six months back and sometimes longer.
If your home is ranch style, it should be compared to sales of other ranch homes. A cape or a contemporary is different. Comps also take into consideration the number of bedrooms and bathrooms, the acreage, whether there's a garage and a basement, and things like central air and the type of heating.