New idea of CMA
Just listened to a neat presentation by a guy named Kerry D Bodily. He runs a company called "XpertCMA" and they have a very interesting idea on pulling comps when you go to sell/buy/price a property. Now, please keep in mind that he is gearing towards mostly home buyers to live in, or a normal seller.
The bottom line of his principle is that if you are taking comps from sold properties in an area, you are doing it wrong. The buyers don't see those sold properties, and they are no longer on the market, meaning they are not really what you should be pricing value against. Another good point he makes is that if appraisers are only pricing against what other properties have sold for, then why do markets increase or decrease? hmm...
I'm not sure if I'm fully onboard with his philosophy, but he makes a lot of good points. He gave his CMA software to everyone who attended the course, and the course was free. In any event, his book is called "how the real estate market really works." by Kerry D Bodily, when he did a second printing, he changed the name, but I don't have the new name handy.
What do ya'll think?