I understand Twilights point and respect it when we use "guarded optimism" in our discussions.

As I've said before,

"don't drink the girl at the end of the bar pretty"............however

What I believe Fatomas is saying is that the in situ valuation already takes into account the net present value and the relative risk factors and then sets an "average" valuation. So in essence the $75.00 dollar number is the average being paid all risks and discounts factored in. From that figure you can add in a premium for the location and jurisdiction.

Make sense????? or am I all wet?

Best all................Carry