- Feb 24, 2005
- Professional Status
- Certified Residential Appraiser
I just wanted to get an idea of what you determine when making this distinction between these 3 choices? Since Vegas and a lot of other metro areas have been declining for the last 2 years more or less, there will be a time when you will have to start marking stable or even increasing again in your reports. I have started marking stable in some of reports as those areas have shown a significant adjustment. In the areas where it is just starting I am getting questioned about it by underwriters. In these instances the data is showing that the decline may be over, however the data is so fresh that there is not a trend that extends for more than 60-90 days or so. So at what point are you comfortable in marking that box stable or increasing? I have been using 90 days myself. If the area has declined over the last 24 months, then the last 90 days there is a significant change in the direction of values I market stable or increasing if there is an up wards movement.