- Joined
- Jan 15, 2002
- Professional Status
- Certified Residential Appraiser
- State
- Illinois
Appraising a property with a very limited real estate market.
I have three comps that work, but exceed typical guidelines. None of the three are the perfect comparables. One comp sold just over a year ago, with approx 5% increase.
The subject property also sold just over one year. So, I used the subject as a 4th comp, with a 5% time adjustment. In my opinion the sale of the subject is the best indicator of value, with a time adjustment.
But, I am being advise that this cannot be weighed in final analysis. It can only be used as support. (WHY ?, is this a FNMA guideline?)
I may have explained too much this time, and clouded what I was really trying to explain.
I'm needing some help putting my thoughts on paper.
I have three comps that work, but exceed typical guidelines. None of the three are the perfect comparables. One comp sold just over a year ago, with approx 5% increase.
The subject property also sold just over one year. So, I used the subject as a 4th comp, with a 5% time adjustment. In my opinion the sale of the subject is the best indicator of value, with a time adjustment.
But, I am being advise that this cannot be weighed in final analysis. It can only be used as support. (WHY ?, is this a FNMA guideline?)
I may have explained too much this time, and clouded what I was really trying to explain.
I'm needing some help putting my thoughts on paper.