3D Map Shows America’s Most Expensive Housing Markets
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Tips for Dealing with Complex Residential Appraisals
Time is your friend when dealing with a complex residential assignment. In general, time adjustments are the easiest and most reliable adjustments to make. Don’t limit your comparable search to the lender box of 3 months/6 months/12 months back. Go back as far as necessary to deal with your subject’s complexity.
A special case of going back in time for comparables is to consider the prior sale of the subject. Using the prior sale of the subject is a great way to deal with issues unique to the subject such as location or a physical characteristic. If you’re lucky, the subject has sold within a reasonable time frame and can be time adjusted forward to be used as a comparable. The prior sale of the subject can be your best comparable.
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