Skip to main content

  • Comment Detail

  • Date: 02/12/21
    First Name: William
    Last Name: Griffith
    Email: bill@appraisalfirst.net
    Organization Type: other
    Organization: Appraisal Institute

  • Comment

    Appraisal valuation models and bifurcation type appraisals would be the wrong way to go. The Valuation Models have historically been inaccurate, and do not tell the whole story of a particular property. Bifurcation is intended to reduce the time to complete appraisals, but in my experience, it would only lengthen it and provide a woefully inadequate product. One of the most important processes of the appraisal is the site and neighborhood visit by the appraiser. I find new things everytime I visit a neighborhood, including houses that have been knocked down, which would indicate a land sale, or traffic patterns being changed due to new road construction, or a neighboring property being poorly maintained, which may affect values around it. In addition, my appraisals are based on square footage I have derived at by measuring the property and inspecting the interior. I would never want to sign off on somebody else's square footage or interior descriptions. Makes for a less reliable appraisal and a valuation that I couldn't say would be as accurate had the appraiser do the inspection. Thanks.