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Sales Comparison Approach vs. Market Approach

happserv

Freshman Member
Joined
Dec 11, 2014
Professional Status
Certified General Appraiser
State
Mississippi
Can someone show me where the term "market approach" was retired in USPAP?
Thanks
 

Sadie

Senior Member
Joined
Mar 20, 2008
Professional Status
Certified Residential Appraiser
State
Oregon
Can someone show me where the term "market approach" was retired in USPAP?
Thanks
I have never used that term, but if it was used it was pre 1998 because it is not in my 1998 USPAP book
 

RSW

Elite Member
Joined
Feb 18, 2002
Professional Status
Certified Residential Appraiser
State
Tennessee
I remember the term "Market Approach" from classes I took in the early 1990s. By 1994 I never heard the term again.
 

sputnam

Senior Member
Joined
Apr 24, 2012
Professional Status
Certified General Appraiser
State
North Carolina
I don't think 'Market Approach' was ever in USPAP. It is a slang way of saying Sales Comparison Analysis. In fact, all three traditional approaches are 'market approaches'. The data used in each is derived from the market.
 

alebrewer

Senior Member
Gold Supporting Member
Joined
Mar 11, 2008
Professional Status
Certified Residential Appraiser
State
Texas
Some might argue that two of the approaches are more market driven than the other, although I understand your point.
 

Sadie

Senior Member
Joined
Mar 20, 2008
Professional Status
Certified Residential Appraiser
State
Oregon
I remember the term "Market Approach" from classes I took in the early 1990s. By 1994 I never heard the term again.
Market Data Approach is used in my 1972 Real Estate Appraisal Book-pre USPAP
 

Sadie

Senior Member
Joined
Mar 20, 2008
Professional Status
Certified Residential Appraiser
State
Oregon
I don't think 'Market Approach' was ever in USPAP. It is a slang way of saying Sales Comparison Analysis. In fact, all three traditional approaches are 'market approaches'. The data used in each is derived from the market.
It was used pre USPAP
 

jay trotta

Elite Member
Joined
Feb 8, 2004
Professional Status
Certified Residential Appraiser
State
Connecticut
Market Approach = Sale Comparison Approach ??

#7 agreed
 

Terrel L. Shields

Elite Member
Gold Supporting Member
Joined
May 2, 2002
Professional Status
Certified General Appraiser
State
Arkansas
When it was argued that "Market" applies to all 3 approaches, the sales comparison approach was no longer called the "market" approach. It is a pre-USPAP term
 
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