10/23/2026
The comp is not a value. It is an average of other people's decisions.
Every valuation starts the same way. Pull three nearby sales, adjust for the differences, land on a number. The number feels solid because it came from real transactions, real money, real closings.
But open any of those sales and there is a story the spreadsheet never kept. A divorce that needed speed. A job relocation with a deadline. An estate that wanted the house gone. A buyer who stretched in a bidding war and set the top of the range. The record kept the price and discarded the reason.
Then the next seller prices off that average, the next buyer pays it, and the number hardens into what everyone calls market value.
A recorded price tells you what someone paid under their circumstances. It says nothing about what the property in front of you is worth under yours.
Most properties are not priced by what they are worth. They are priced by what the neighbors got.