I just worked hard on 2 BPO's for a company that shall remain nameless to protect the guilty. One hint is that they are located in California. My market area of expertise is North Jersey. That is where the orders were for.
As I usually do, I put alot of work into the reports that I submit. I make sure that they are accurate and reliable. I knew when I hit the submit button on these two I would be hearing from the BPO police.
Obviosly being from Jersey and working in the area, I need to get a clue. The asset manager behind the desk in California must know the market on the east coast better than me. They must have spent endless hours marketing and selling homes in North Jersey, right. You would think so by the email I just received.
The email I received told me that the comparables I picked were not the right ones and here are the ones I should have used.
I have to say that I am not one to swaer to often, a rule I broke a little while ago.
Are the kidding me (of course they are not). I wish they were. They wanted me to change my comparables to one that sold for 2ook over the subject property. I think these would work better, hint, hint. Never mind the location is better, the size and style are superior, and they have public water in sewer as opposed to septic and well water supply.
OK Dude out there in California, get a grip, hang ten, those comps are far out.
Alright. Now I feel better.
Anyone else have the same issue?
Thank you for the much needed therapy. I feel better now.