“Id like to find out the value of my home. But you cant really use comps to determine the value. When can you come over?
Uh oh. Thats short-hand for:
Scrap the accepted, time-tested way of evaluating homes because that wont support the crazy price I want. Instead, get out the Ouija Board, tarot cards, and tea leaves to set the price. And if that doesnt get us high enough, Ill just tell you the premium price that I feel I should get, and I should get that price for no other reason than its MY house.
In only the most extraordinary one-in-ten-thousand situations do you scrap the comparable sales approach (aka market data approach) and instead use the cost approach to evaluate a home.
Because I havent determined the value of real estate 10,000 times (Ive only hit about 6,000), I havent encountered one yet.
You could be the one, but I doubt it.
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