The correct thing to do is to utilize MLS based comps regardless of what other complimentary tool or methodology you may using.

@Ronald McDonald The best way to decide if a cost segregation study will be of benefit to you is to get a no-cost estimate from a company that provides engineering-based studies, the IRS' preferred methodology.

I just developed my own methodology based on what seemed logical to me, and wanting to ground it in some hard statistics.  

To bring this thread back on topic, with your expressed experience as an agent and as an investor I'd be happy to hear your methodology on efficiently assessing and closing on properties.

In other words, when tested against historical data, the forecasting methodology was correct 78% of the time.

DREIA's methodology is mostly shot gunning low ball offers to MLS listed properties.  

Plus a whole lot more...Instead of relying on an app, learn the methodology for estimating repairs and create your own spreadsheets that will reflect your actual costs.

Ike you say, things are less out of whack in the Maritimes than, say, in Toronto.Bart:  I here you, but you need to normalize for cost of living and not just currency when comparing countries.I hear your point that housing prices in Edmonton are not as desperate, but if look at the Demographia reports (which are more generous in their methodology than others ...

William O'Neil's books (I have a few of them) are good at explaining the methodology.

.), included amenities, parking (on-street, surface or enclosed), current tenant base (young professional, family oriented, senior housing, etc.) as well as those factors that may be unique to the specific municipality or neighborhood.Using the above guidelines should prove helpful in assembling the preferred comp set, and will provide the most accurate insight into the current competitive environment.In a follow-up article, we will discuss the best methodology to use to determine how the subject property is positioned relative to the properly chosen comps.