APB Valuation Advisory #3: Residential Appraising in a Declining Market, includes guidance on:
– How Should an Appraiser Define a Declining Market
– What Databases are Available to Support a Market Trend Conclusion?
– What are Some Alternative Value Definitions?
– Defining a Market vs. a Neighborhood
– Verification of Data
– Support for Adjustments
– Integration of the Opinion of Market Trends into the Appraisal Analysis
– Using Statistical Tools to Develop a Rate of Change in the Market
My comment: better late than never, now that some markets are increasing or stable. Worth reading. Good analysis of the issues with practical advice. .
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