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Updated almost 9 years ago,
What to do when no Comps?
So I'm currently living in a boom and bust town. There have been minimal sales in the past 90 days. Not enough to get any comps.
How would you all go about evaluating the value of a property, when prices 12 months ago were high, however, the oil scare has nobody buying leaving houses stale on the market.
Sellers are still believing their house is valued like in 2014-15 and lack of migration due to job growth slowdown has buyers holding off.
So when sellers are asking "too much" and no one is buying, how would you evaluate for comps when there are none?
Thanks