Yes, how other comps were valued (including concessions, etc.) is more important than what the current contract includes, and other loan mods in the area (esp. principal reductions) should absolutely be included, as we’ve discussed before. It’s criminal that they’re not.
If a sale down the street had $20K worth of “seller concessions,” that is much more relevant than any concessions on the current deal, IMHO. Personally, I’d like to see recorded sales prices that exclude all commissions, concessions, etc., as that is the real price of the house.
