Valuation comparables in a slow market

Description

Abstract: The unstable real estate market over the past several years has posed many appraisal challenges. In particular, low purchase prices — often resulting from “distressed” sales — and a relatively small number of transactions in some markets can make it difficult for appraisers to locate comparable transactions (or comps), a critical element in many valuations. But qualified appraisers do have ways of dealing with such situations; this article discusses some of the adjustments they can make.