VALUE: Now vs. What it could be

[Michael Davis]

Hello everyone. I had 2 properties on my list of potential after final discussions yesterday I have spoke to the owners of each property as well as their agents. They all seem to have the same view which differs from mine. This had me thinking if I'm wrong and would like to start a discussion on the subject to see what ever one else does. When I value things I look at them right now as they sit, not what they COULD be in the future. Am I wrong for looking at things this way? My 2 deals were over priced due to everyone saying "well look what this could be" or "This is the future potential and I have a guy to help you build it." So am I wrong? My grandfather taught me to always value today because tomorrow is uncertain, I have since then i have lived strict by that rule. What is everyone else's take or opinion? Do you have any standards that you follow to help you in business? I have a feeling my entire local market is going to be the same outlook to make their over value seem reasonable to themselves.