What Information Sources are Used for Appraisals ?

Real property appraisers use a number of data sources during the development of their value opinions.  The County Assessor generally compiles sales information, sketches, flood maps, plat maps, sales history information, site size and a number of property details.  Conveyance deeds, available online in Clark County, usually include the "Affidavit of Real Property Value" that discloses the actual sales price of the property.  The Assessor's office is often a starting point when research begins on a real estate appraisal assignment.  

In some areas the Treasurer provides sales information.  Many appraisers also pay to subscribe to databases, like the local Realtor Multiple Listing Service (MLS),  that provides current sales and possibly lease information by property type.  Buyers, sellers, builders, brokers, banks and other appraisers are also good sources of real property information.

In some states appraisers are not provided with sales price details, since buyers and sellers are not required to sign disclosure documents.  Appraising properties in states where information is limited or restricted increases the difficulty of finding the quantity and quality of sales necessary to provide a reliable indication of value.  Slowed market conditions, where few sales are being transacted, also increase the difficulty of finding good market information.  

Appraisers often investigate many sales in a market / sub-market before they select a few to several for comparison and adjustment.  It is not unusual for our firm to investigate 100 sales before 5 are selected for adjustment.  Most appraisers are open minded and will accept sales information from anyone, even those parties involved as principals in their current appraisal assignment.  Appraisers would rather have too much information and select what they consider to be the best than to have little or no information and have to expand their search range or go farther back in time to find sales.

Contact us with your questions or concerns regarding appraisal research, information sources or regarding your specific appraisal assignment in Nevada at 1-702-568-6699.  We can also be e-mailed at grigdon@cox.net.  

Commercial Real Estate Appraisals in the Las Vegas & Henderson, Nevada Area.