Comps Outside of Condo Project

[Joe Birrell (NY)]

Ok, that's it, I'm sick and tired to responding to UW's for additional comps outside of the condo project. It's my understanding that this request is only valid if the project is new and/or not yet established. We havn't had a new condo project built since the late 1980's. These requests are for projects that are well established (built in 1970's and 80's). The best indicators of value are sales from within same project due to large size of projects (number of units in project), and compatbility of units (as compared to large adjustment for units outside of subject project, miles away, that are not similar). WHAT'S THE SPECIFIC GUIDELINE I reference
and beat them over the head with ? Thanks for your help.

Ranting Joe

 

[Pamela Crowley (Florida)]

Here's your answer. YOU are correct!

http://appraisersforum.com/forums/viewtopi...p?p=16560#16560