Remove Predominant Price from the New Forms - Appraisers Blogs

Abstract

After homes are lived in, and especially where homes are more custom or in suburban/rural areas, the exact sale price implying "Predominant" is basically unachievable. Tell me exactly what the "Predominant" price is from this data - when the 6 sales in 2016-17 all have DIFFERENT sale prices: The word "Predominant" should be removed from the 'new forms', which apparently will be dynamic in their use process. The implication of Predominant is 'most frequent' or 'most common' price of homes. Seldom is Predominant exactly achievable because real estate is imperfect and comparable sale prices often don't fall into predictable patterns where a Predominant value is precisely identifiable. For the purposes of this entry on the form, the appraiser has reported Predominant as a price within the reported range of Neighborhood sale prices. The appraiser's Opinion of Market Value may be above or below the Predominant price shown in the entry box. The last two sentences above are re-written if the Opinion of Value is BELOW the so-called "Predominant" price.