- Jan 16, 2002
- Professional Status
- Certified Residential Appraiser
Two points, one of which has already been touched on. One closed sale does not indicate a change in the market. The other point is that any reconsideration or updated appraisal will require a trip to the subject, new photos, possibly some remeasuring, new effective date, new research, new conclusions based on current market date (which may mean your value stays the same as two months ago and not any changes what so ever). Regardless of what you decide to do follow Standard 1 of USPAP very carefully--and then decide how and if you want to proceed in reporting your conclusions (Standard 2).