I thought comps were based on “sales” – not listings.
How can you base a comp value on a listing price?
The listing price is a moving target. The sale price is fixed and final. The listing price can change up or down.
I was also told by an appraiser that they do throw out the highest recent sale and the lowest recent sale to eliminate the extremes. Maybe he just told me that to CYA himself.
“…appraisers will start using our 40%-off listing in their comps…”
