Glad to hear I’m not the only one in the dark

I complained recently that, with almost no sales, it was impossible to figure out what a house was worth these days. A couple of readers suggested using 2001 prices or the assessed value (70% of the supposed “market value”) and both seem to work, with limitations. Now here’s someone in Dallas complaining about the same problem with commercial property: “How can we price something when nothing’s selling?”

Commercial or residential, if there are no comps, there really is no market.

3 Comments

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3 responses to “Glad to hear I’m not the only one in the dark

  1. Cos Cobber

    Hello, this is true of most asset and goods at the moment; art, autos, commercial real estate, etc.

  2. Peg

    The worst part of my job today. Sometimes I think it would be easier to go to Vegas and play Keno.

  3. Realtor1

    Real estate is worth what an able, willing and ready buyer will pay for it.
    Right now we don’t have those buyers.
    So in a sense, our real estate is worthless.
    Not just worth less.
    CMA’s are near impossible to do and there are few facts to back them up and fewer hopes to offer our sellers.