PropertyEconomics
Elite Member
- Joined
- Jun 19, 2007
- Professional Status
- Certified General Appraiser
- State
- New Mexico
Webbed is not wrong. If the appraiser determines in the 1004D if the value has gone down, or makes any reference to current value in relation to the prior value .. it is an appraisal ... and not merely an "update".
Im constantly amazed that many dont understand what the term appraisal means .. and I know you are not one of them Terrel ... but many just dont get that a value reference to a point of value (ie greater than or less than or equal to) is in fact an appraisal.
Once again Webbed is not wrong in regard to the OP.