I posted in the App Review forum from the perspective of an objective appraisal reviewer, although to address JGrant's question, the thread just as well might have been posted in the General Appraisal forum.
Not that it should change the theme of the thread--in a roundabout response to Post# 3 that alludes to the "potential upper limit of value" established by adjusted active listings--but I was thinking more so about pendings that appear to presage an imminent decline rather than an increase in market value, which I think would be of greater concern to a potential lender, in a mortgage-related assignment, than current value--although that contradicts the implications of an "as is" assignment.
All of that having been said, I also disagree with Post# 7 that opines a perspective that contradicts USPAP, which goes out of its stodgy way carefully to explain why sales recorded after a date -- despite being published in the context of retrospective appraisals--can be used, and by inference, should . . . must be considered, if they would have been known under normal circumstances on the effective date. Retrospective to me is last week rather than merely a specific date in the past.
Viewed from a different perspective, because nothing that leads up to the "effective date" of a report has any bearing on the future--statistically or otherwise--the appraiser's market analysis has absolutely no bearing on anything after the effective date.
Methinks that a lot of appraisal theory taken for granted is meaningless, as a revisionist analysis of USPAP might reveal, there often being additions--and deletions--to concepts previously held inviolable.
