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In response to
"Yes, but arguably whatever the price an independent third party in an arms length transaction is willing to pay is its market value. -- nm"
by
pmb
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Right, which is why they only use sold comps, not listing comps.
Posted by
Subversive
Aug 3 '09, 11:42
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The market is what people are willing to pay, so sold comps are the only useful valuation tool. Just because people list their house high, doesn't mean it's worth that much.
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