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The movement to embrace appraisal modernization techniques also holds the promise of removing the potential for racial bias, better supporting efforts to remove valuation gaps that persist in minority neighborhoods. of the properties in Black neighborhoods receive appraisal values lower than the contract price versus 7.4%
I was first trained as a scientist, starting with my high school biology class. I have always been a professional appraiser since I started in 1975, trained at an assessor’s office to do what is in this article. What about a degree in another field that did not include any appraisal-related training? I got it for MLS access.
Upon arrival, you’re greeted by a lavish motor court leading to timeless modern architecture. Luxury living at this 10-acre promontory estate in Beverly Hills CA for $120,000,000 Excerpts: 8 bedroom, 20 bath, 30,610 sq.ft., There is a monetary component – which is confidential. The settlement does not include the defendant appraiser.
SW: We hear a lot these days about appraisal modernization. What does appraisal modernization mean to you? But I think that it’s going to help solve a lot of problems both now and in future as we move toward more modern valuation methods. I don’t know that we’ve stumbled upon any magic bullet just yet.
Excerpts: Suggested protocols for responding to Reconsideration of Value requests. Click here to listen to Tim Andersen, MAI’s podcast, “Reconsiderations of Value: Satan’s Own Seed, Right?” The post Reconsideration of Value and Appraisers appeared first on Appraisal Today. By Greg Stephens, SRA, AI-RRS.
By using a correlation matrix, appraisers can ensure that they are focusing on the most relevant, objective factors that affect/reflect market value, and that their valuation methods reflect actual market trends, improving the accuracy and credibility of the appraisal.
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