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Appraisal Education

Appraisal Foundation: Rules Are Changing in 2018

USPAP was written by the Appraisal Foundation in an attempt to establish a set of uniform standards by which professional appraisers should approach the appraisal of various properties.  All credible professional American appraisal societies have adopted USPAP as their Standard of professional appraisal practices. All credible appraisers must know the rules, guidelines and regulations regarding…

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Provenance Rank

Generally defined, provenance is the verified, proven history of an item that links that item with someone or an event, in a manner that makes the market for that item react favorably; increasing the value of the item over and above an identical item, which does not share the same linkage. There are several aspects…

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Discussion of the Concept/Basis of Diminished Value:

The analysis made in Diminished Value Reports is based on information supplied to appraisers from various sources, the experience of the appraiser, market knowledge, and the appraiser’s training. In making any Diminished Value inquiry, the appraiser upon the principle of antecedent probability, i.e.; one may rely upon consistent past events to reliably predict the future.…

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Fair Market Value

BY: JOSEPH M. CORNELL, CMA, ASA, ISA ALL RIGHTS RESERVED 2005 “Fair Market Value” is, most often, an enigma to both appraiser and client alike. It is a term that causes confusion, misunderstandings, and a great deal of frustration.  Most people, when they encounter Fair Market Value as a term used in the appraisal industry and…

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Appraisal Terms

Agents of Production: Agents of Production is the economic principle that contends that all production is a result of four agents being in balance: Labor, Land or Materials, Capital and Coordination. The loss of balance with any of these makes production inefficient. Annuity: An annuity is a stream of income that is in the form…

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