PropertyEconomics
Elite Member
- Joined
- Jun 19, 2007
- Professional Status
- Certified General Appraiser
- State
- New Mexico
Originally Posted by AnonApprsr
All three approaches are a market approach. I don't understand statements that differ. The cost is based on the costs in the current market. The sales comparison approach is based on sales in the current market. Income approach is based on incomes available in the current market.
Thats why its called MARKET VALUE .......
No, that's why it is called MARKET DATA.
The appraiser gathers maket data on the three approaches, verifies, analyzes etc, then the three approaches yield the indicated values, THEN the appraiser decides which one, or two, or three of the indicated values should be relied on/weighted as a credible support for the appraiser's OPINION of market value.
Your theory suggests that all three approaches should always yield market value, and if they don't , play with the data till they do.
SIGH .. you just dont get it so there is no sense going farther with you. You cant even understand the definition of MARKET VALUE ... or you have totally missed the point of my post ... then again thats nothing new ... you cant open your mind long enough to grasp the concepts of appraisal that have been in place for decades. You have readily admitted you dont have the most widely read references in your library so it appears to me you are simply arguing from your personal biased perspective rather than from any printed published source of information.
Its truly sad that you refuse to take the information that is provided to you by those with years of experience and study, you admit you havent read the books ... so its simple .... you are just hard headed and believe you are right.
Unfortunately you are not correct ... but as I have said previously ... its your clients that suffer from your lack of knowledge ... not the appraisers here who have done their best to inform you.
Carry on ... and pray your true lesson of appraisal doesnt come at the hands of your appraisal board. Chances are very great there are at least some on your board that fully understand the concepts, the theories and the methodologies .... perhaps when they tell you or suggest you take a class you will learn.
Until then .. ignorance is bliss.
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Yep, people buy homes in a vacuum...never have a clue whether they could build cheaper....or buy a "used" house. I suppose you only buy new cars too? Are you really from Texas???