Are you still using comps from last year?

[Mike Schorah]

Home prices aren’t going down from what I’ve seen. I’m also wondering if the 70% rule works. My market is still hot… just not as hot as it was 6 months ago or even a year ago.

[Joe Villeneuve]

Quote from @Mike Schorah:

Home prices aren’t going down from what I’ve seen. I’m also wondering if the 70% rule works. My market is still hot… just not as hot as it was 6 months ago or even a year ago.

 Why would anyone use comps from last year...at any time?  The only comps that matter, are the ones within the last 3 months...at any time.  This hasn't changed in at least the last 40 years.

If the 70% rule was an actual RELE, and it could be applied to EVERY property to see if it actually worked, at any time,...would it ,atter,...at any time?  Why?  It tells you nothing of value.