A F R
Broker, Merced, CA
Not sure what your Q is, but when we do comparables (COMPS) CMA (comparable market analysis... which is similar to an appraisal, but not official as realtors are not licensed appraisers), we SELECT homes that have SOLD in the recent 3 - 6 months (due to the distressed sales, it is not unusual for an appraiser to go with the recent 3 months as opposed to 6 months, esp. on VA Loans). The objective is to locate recent sales of SIMILAR (LIKE) properties to get a realistic CURRENT VALUE of your property. The numbers do not lie for the most part, what causes the problem is REALTORS who are desparate for a commission check who will let a property go (convince a seller) at a below market price. If a SELLER can afford (and the Realtor can afford to wait for their commission check... realtors work for commission only, so if the Realtor drives up in a Mercedes or a BMW, they NEED THE CHECK!) to WAIT for the TRUE MARKET VALUE (which would be NON-DISTRESSED SALES, do not compare a owner/occupied, move-in ready home to SHORTSALES OR REOS which are usually trashed, dead lawns, stripped of appliances, etc.) our ECONOMY willl RECOVER much sooner instead of FORCING the USA into the DOUBLE-DIP RECESSION which we are headed for.