--- In AsburyPark@yahoogroups.com, "radio881gal" <restore88...@...> wrote:
>When I started
> asking around, people said that companies use formulas that figure
> in unsold housing units, which count against property values in a
> community. We've got a lot of unsold housing stock.
> Say it ain't so...
It aint so, or should not be. Anyone who uses formulas should be in
jail. It is based upon comps. But what if there are no comps? Very
difficult right now. I even go over my guys residential jobs carefully
now. In NYC, I make sure we have sales post 9/15/2008 (Lehman)
otherwise we really don't know where the value is. Two-three years ago
is a lifetime. In today's market, any sale 6 months old may tell you
nothing.
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