Updated almost 6 years ago on . Most recent reply
Is it even possible to accurately comp a property right now?
We all know that this is one of the most uncertain times in all of our lives. Nobody knows how the future will go, partly because we almost no historical comparables to look at. In that same way, how is anybody able to accurately comp or appraise any property right now? Even if you have a comparable property that sold 2-3 months ago, it would've been priced and sold in a completely different world than we have now. We have no way to predict how the psychological toll of a pandemic will affect the minds of buyers and seller because we've never seen anything like this before; we can't know how the market will be 9 months from now. Any realtors/investors/appraisers: how are you running comps on your properties? And Investors, how are you factoring this in when pricing your flips or investments?