Valuation by Comparison: Residential Analysis and Logic

Conditions in residential markets change quickly and the pace of change can create unique problems and challenges for real estate professionals. Residential appraisers now have a new tool to meet these challenges -- Valuation by Comparison. Appraisers know that the sales comparison approach is the best and most logical way to value residential real estate, but what's an appraiser to do when markets are in flux, data are scarce and traditional techniques don't work?Valuation by Comparison explores the most fundamental role of the appraiser as an interpreter of human behavior. The text presents innovative strategies and techniques for distilling relevant information from comparable sales as well as less-than-perfect market indicators such as current listings, expired listings and pending sales. Practical advice for making problematic adjustments is provided along with guidance on completing residential forms in compliance with the Uniform Standards of Professional Appraisal Practice.