- May 1, 2003
- Professional Status
- Certified Residential Appraiser
Good point.Originally posted by Terrel L. Shields@Jun 17 2003, 08:18 AM
Fact is, many appraisers use cost related adjustments without understanding that they are even doing it. Costs can be extracted from the marketplace, but did you ever see an appraisal where the Sales Approach was relied upon without reference to the Cost approach?
But the market, and sales prices overall are driven by buyers who are asking "how much would it cost to add a fireplace?" How much would it "cost" to add another garage?" "How much would it cost to build that 750sft deck?"
Seeing cost related adjustments shouldn't be a big supprise. Or should it?