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Jack Smiley  08/15/04

In response to MDN 8/15/04 article

What homes sell for in relation to the asking price is interesting, but
if the asking prices are less than they would be without the contamination,
then the survey results are essentially meaningless.  They would really need to
compare sales prices for comparable properties with dioxin contamination, to
those without contamination. 

However, that is much more difficult to do, so that is probably why they just
looked at asking prices.  But, under Dow's survey, if a property would
normally be worth $150,000, but it was listed and sold for $100,000, they would show
that as "proof" that the values aren't being affected since it sold for the
asking price.  That is simply not a valid comparison.

Jack Smiley
(Michigan Real Estate Broker)

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