A Guide to Appraisal Valuation Modeling
A Guide to Appraisal Valuation Modeling will introduce skeptics to the mathematical modeling of market behavior. The handbook provides historical perspectives, statistical fundamentals, support for assertions of causality in appraisal reports, and the basics of regression analysis and model construction. Many of these topics are brought together in a case study on the valuation of lots in an actual residential subdivision. Throughout the text the authors highlight the interplay of evolving statistical theory, traditional appraisal standards and practices, and simple common sense. This timely publication is essential reading for any appraiser who has stubbornly resisted the encroachment of the number-crunchers. No matter how much you hated statistics in college, you can understand regression analysis. As the authors illustrate, most appraisers have been using similar statistical applications for years. With the basic information in this guide and a few technical refinements, you can use your existing knowledge to turn AVMs from an enemy into an ally.