Appraisals are psychology

[alebrewer]

That judgement That might be called "subjective" on the part of the appraiser, but it reallly is about what the buyer would consider as the altnerate choice to an indivudal subject property.

Fully agreed. The question is, however, how do you demonstrate that is the case? You believe the typical buyer would look west of Main for a substitute to the subject. I believe the typical buyer would look east of Main. Which 'judgement' is correct, and why? Don't you have to attempt to quantify that assertion?

 

[J Grant]

Fully agreed. The question is, however, how do you demonstrate that is the case? You believe the typical buyer would look west of Main for a substitute to the subject. I believe the typical buyer would look east of Main. Which 'judgement' is correct, and why? Don't you have to attempt to quantify that assertion?

Proof with the data and interviewing brokers, participants, having done past area appraisals, etc should support why one judgment, east or west, is credibly supported out of the two.

it is not about the typical buyer; it is about the particularly motivated buyer for the specific property of the subject, with its own set of attributes and defects.

 

[TerryRohrer]

it is not about the typical buyer

Despite the fact that typical points directly at most probable.

 

[alebrewer]

it is not about the typical buyer; it is about the particularly motivated buyer for the specific property of the subject, with its own set of attributes and defects.

I really hope I misinterpreted this. Are you saying market value is reflective of what a particularly motivated buyer would do?

 

[J Grant]

Despite the fact that typical points directly at most probable.

at risk of engaging with you, most probable is a set of terms to arrive at the price that is set within the MV definition. The most probable price replaced teh former highest probable price .MV is not priced as a stand-alone number. It is a numerical price arrived at in the assumed terms and motivations stated in the MV definition used in the appraisal.

Two properties can sell for the same or similar price for very different reasons, some of which are location-driven.

Typical is used to describe the motivations of the typically motivated buyer in choosing X property or X location and why they are willing to pay more or less for certain properties and locations.

 

[alebrewer]

Are you sure you're not the word salad writer for KH, J?

 

[J Grant]

I really hope I misinterpreted this. Are you saying market value is reflective of what a particularly motivated buyer would do?

No, I am not saying MV reflects what ONE particularly motivated buyer would do.

The MV definition refers to the typically motivated buyer in the singular to represent that segment of buyers who are likely to purchase the subject or a competitive property to teh subject.

 

[TerryRohrer]

at risk of engaging with you, most probable is a set of terms to arrive at the price that is set within the MV definition. The most probable price replaced teh former highest probable price .MV is not priced as a stand-alone number. It is a numerical price arrived at in the assumed terms and motivations stated in the MV definition used in the appraisal.

Absolutely nothing cogent in that mess.

 

[alebrewer]

No, I am not saying MV reflects what ONE particularly motivated buyer would do.

The MV definition refers to the typically motivated buyer in the singular to represent that segment of buyers who are likely to purchase the subject or a competitive property to teh subject.

Still not connecting the dots. You said it wasn't about the typical buyer, but you're also saying it IS about the typically motivated buyer. Is there a difference?

 

[J Grant]

Still not connecting the dots. You said it wasn't about the typical buyer, but you're also saying it IS about the typically motivated buyer. Is there a difference?

It is not about ME. It is about what is in the MV definition!

The MV definition refers to the buyer as singular. Don't blame me for that!! However, unless one is acting dumb to goad people, the singular term buyer and seller in the MVV deftntion could refer to that set of buyers and sellers who are typically motivated to buy the subject or its most similar substitute.