I can have a builder build a home for between $50 - 100 a square foot with the exact same quality materials so please do not use price per square foot in your overall decision making process. A home is not a commodity to be bought by the pound, yard, or sq. ft.
There is a reason why appraisers have to be licensed and why they go through an apprenticeship program first.
Just remember that figures don't lie but liars figure. If you let me choose the statistical sample, I can prove almost anything. For example, here is Abbott and Costello showing how you can multiply 7x13 to get 28. Check it out for yourself if you don't believe me: http://www.youtube.com/watch?v=rLprXHbn19I&feature=my_favorites&list=FLguyp3j2gaM_S_0SY31xiSg
Here is a blog I wrote about this topic back in 2009. http://activerain.com/blogsview/1347321/cma-logic-and-lack-there-of-
The best thing to do is to try to judge apples to apples, not just ask how the fruit market is doing!... more