Welcome to the final 2019 issue of The Appraisal Journal. To close out the year, the Journal offers four feature articles--two addressing conditions that may give rise to price effects for residential properties and two addressing techniques for data analysis that maximize the usefulness of appraisal reports.
The first feature, "Challenges with Appraising in the Secondary/Tertiary Multifamily Rental Market," by William J. Kimball, MAI, demonstrates how national indicators and statistical data from the internet can he analyzed and used to augment typical local market analysis.
The second feature, "The Tradeoff between Selling Single-Family Houses as Vacant or Lived-In: Evidence from the Bloomington-Normal Housing Market," by Adebayo A. Adanri, PhD, SRA, and Han B. Kang, PhD, uses data from the local multiple listing service and a hedonic regression model to investigate whether occupancy status of homes impacts sale prices or time on the market.
The third feature, "Incorporating a Discussion of Risk in Appraisals: A New Direction for the Appraisal Industry," by Martin A. Skolnik, MAI, points out that during an appraisal assignment, appraisers collect and discuss information on many risk factors that might tangentially describe the risk to the mortgage lender. Currently...