New USPAP Q&As published March 6, 2025

[Mark K]

Adjustments, in this report, are based on a combination of Paired Analysis with Sensitivity and/or Trend Analysis & on a study and understanding of historic or past buyer preferences. Support for adjustments may be based on multiple applications and rarely do two methods return identical results with a high degree of accuracy. While not always 'strongly' independently supported, collectively, the adjustments serve to narrow the adjusted value range of the comparables in support of the subject's 'most probable selling price' commensurate with the definition of Market Value set forth herein.

All of which begs the question...do you need supporting data and analysis for the lack of adjustments? It makes sense prohibiting experience based, subjective adjustments as requiring data and analysis for all adjustments that were made.

No adjustment for site size? Prove that no adjustment is necessary.
No adjustment is made or necessary for sizes less than 100 s.f.? Prove it. (Personally I always thought this is a lazy one and likely incorrect)
Etc.

Proving that no adjustment is necessary should be just as important as proving the adjustments that were made. That is, it should be for those in the 'prove all adjustments, no experience allowed' crowd.

 

[DWiley]

I told you that you earned your respect on some topics.


I told you the areas you don't deserve respect from me. LOL

You are entitled to your opinion. I do not know if your opinion on hybrids is based on evidence and logic or not. I do know that my opinion on that topic is driven entirely by what the data shows.

 

[Mejappz]

Evidence and logic, to the degree necessary for the intended use.

 

[Tim Hicks (Texas)]

Imagine the angst of using or valuing the metal frame "barndominium' ...

Those we seem to have plenty of lately.

 

[Tim Hicks (Texas)]

You are entitled to your opinion. I do not know if your opinion on hybrids is based on evidence and logic or not. I do know that my opinion on that topic is driven entirely by what the data shows.

It certainly isn't based on the fees the appraiser is receiving.

 

[Mejappz]

It certainly isn't based on the fees the appraiser is receiving.

Can you imagine having to support all your adjustments for $120.00 and 24-hour turn time?

 

[J Grant]

I would have if there had been one of similar size and age, but those three were the most similar I could find that could bracket the subject by age and lot size. They just happened to be wood frame homes. I did not have a plethora of sales to choose from was my point. Oh, I could have used a couple of sales $500,000+ higher, but if a property is selling for $600,000 are $1.1-1.3 million dollar properties really similar?

What value was your subject? clearly a sale in the one million range is not comparable to a subject with a value in the 400-500 k range.

 

[Terrel L. Shields]

Those we seem to have plenty of lately.

About $50 cheaper here than a typical SFR. OTOH, I wonder what a house would cost here if there weren't 18 different roof pitches, mostly 8:12 or steeper, 3 bathrooms, 12' ceilings, and a $80k kitchen to toast bread and thaw frozen dinners in.

 

[Terrel L. Shields]

clearly a sale in the one million range is not comparable to a subject with a value in the 400-500 k range.

Well, it might be very comparable in quality and style... but the difference is that it is a different buyer pool.

 

[Mejappz]

What I’d like to know is how much the unethical stakeholders paid TAF for the insertion of this little paragraph.