Letters to the Editor

摘要

The article "Market Value: What Does It Really Mean?" (Summer 2108), by Michael V Sanders, MAI, SRA, references my article "Price, Value, and Comparable Distinctions in Distressed Markets" (Spring 2012), as "noting the inherent conflict between distressed markets and conditions attributed to standard [market] value definitions." Mr. Sanders goes on to state, "Even if real estate owned and short-sale transactions in distressed markets reflect typical motivation, Steinke opines that they still reflect undue stimulus and are therefore not reflective of market value." He then asks, "[I]f distressed sales comprise all or most market activity, isn't it more realistic to accept the market as it is, rather than impose unrealistic conditions associated with a non-existent semi-perfect market?" (Page 217)