[ExTxMarine]

Just look at big equities with dozens of analysts forecasting the price. The estimates are all over the map. It’s no different with real estate.

Real estate is worse than the Olympic gymnastics or figure skating, and professional boxing scoring! And we see their "difference of opinions" in REAL-TIME!

You take five skilled, professional workers (i.e., electrician, HVAC mechanic, structural engineer, etc.) and give them ONE task to plan...you will get at least TWELVE viable answers!! As John Dalton says in Road House, "Opinions vary."

[ProtectOurFreedom]

Yes, everything is an ESTIMATE based on countless factors. I used to get estimates for large scale R&D projects and the high/low spread in the estimates was astounding.

Often the estimate didn’t even depend on the factual estimates by the professional engineers, but how hungry the seller was. If his order book was empty and he was facing imminent layoffs of his most important asset (his highly trained people), you got a MUCH better price quote. So even if you had perfect estimating by all the engineers and estimators arriving at the exact same price, you still had spread on your quoted prices depending on the bidders hunger or imminent hunger.