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In recent months we have seen a dramatic decline in the number of appraisal orders from AMC's. Why? 
The main reason is the hike in interest rates and the seller's refusal of lowering the sales prices. The buyers have to adopt themselves to higher interest rates and the sellers of real estate properties have to lower their expectations. These two forces of demand and supply will eventually create an equilibria in the market, and consequently the number of orders will pick up. 
For more info please call me at 818 880-1466 or send me an email to kiani105@yahoo.com or visit my website at www.pacifichomeappraisers.com

Tony Kiani

What is a retrospective appraisal and why the clients are willing to place such an order? Retrospective Appraisal refers to an appraisal with the effective date in the past. Let's say that there is a dispute about the value of certain property (either due to tax litigation or divorce or any other reasons including but not limited to a date of death, etc.) as effective date of 5 years ago. The client wants to know how much was the value of the property under dispute 5 years ago. Probably, the court wants to know this fact (value) to rule on a dispute between parties. 
The appraiser has to look at the market activities occurred during that period and has to analyze prior activities (now he/she has to go back 5 years and find out what was sold within 12 months that reasonably would resembled the characteristics of the subject property).
Summary:
An appraisal performed at the present time with an effective date as of a date in the past is technically known as a Retrospective Appraisal. Retrospective appraisals may be needed for a variety of reasons including; Property tax appeal – valuation for a specified tax year. Litigation – valuation as of the date of loss.
I hope the above information has provided you with some information about the use and purpose for a RETROSPECTIVE APPRAISAL. For more info either call me at 818 880-1466 send an email to: kiani105@yahoo.com or visit my website: www.pacifichomeappraisers.com

I have had many instances that the clients want to get a construction loan and is in need of an appraisal based on a hypothetical condition that the subject is already built. The appraiser need to get the plans and specifications. Study them carefully. Specifically, pay close attention to architectural drawings. Find out what will be the GLA upon completion, how many bedroom/bathrooms, what kind of view the property will have upon construction, quality of workmanship and type of finishes that the GC will install. Then the appraiser needs to compare the subject with newly built properties. Since my background is of a General Contractor/Sub-contractor (Rough Framing), I usually like the above challenges. 
I hope the above brief guidelines provide some help. Contact me at 818 880-1466 or just drop me an email to kiani105@yahoo.com if you need more assistance. You can always refer to www.pacifichomeappraisers.com for further info. Tony 

Retrospective appraisal refers to the appraisal performed sometime in the past date. For example, if there is an interest in finding what was the worth of a property 5 years ago at the date that a death occurred or a marriage was dissolved , the appraiser can provide the value of the property at that time in the past. 
The appraiser has to research the market activities of 5 years ago. Has to find comparable that could compete with the subject property and do his/her analysis and perform an opinion of value of the subject property in 5 years ago. 
In summary:

What is the correct Home Appraisal Process to determine property value the right way? Watch the following video.

The video explains the importance of the following factors in home valuation:

1. Location
2. Market
3. Age
4. Condition
5. Improvement
6. Neighborhood

Each of the above factors has great role when evaluating the appraisal of a piece of property.


https://www.youtube.com/embed/fyvQHiKlh_g?rel=0

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