Quote:
Originally Posted by UFO
Who's to say what market value is. .
|
market value and price are two different things.
market value would be based on average comparables, considering certain factors like $/sq ft, rental yield, etc. but these, again, are based on actual sales of similar properties
price, as you refer to, happens when you have special interest purchasers (more a consideration for companies than residential real estate), crazy people willing to spend, one time, a crazy amount, differences due to negotiating skills, etc.
your one time example will end up as an outlier and is usually ignored for market value analysis.