Let’s Do This!

It has been two years since my last blog. A blog should be updated at least monthly. I average posting a new blog about every twenty-four months. What’s up with that? Well you don’t see the work I have been doing as a business. In addition to my appraisal practice I have actively been researching, programming, and developing valuation tools for 20 years. This is far longer than any active appraiser today. I recognized the need for the appraisal profession to be involved in research early on. The excerpt below is from the book I wrote on “Due Diligence & Scope of Work” in 2003.

The real key to elevating the appraisal industry to a profession is by appraisers working together to accomplish tasks that cannot be accomplished by an individual. One method would be to create an appraiser’s task force (ATF) that would be charged with creating new tools, methodologies, and resources to enhance the effectiveness of the appraiser. This would basically be a Research and Development (R&D) for the appraisal profession.

I recently self-published the book, “The Valuation Analyst, Research in Extracting Adjustment Rates”. It is a recap of the research I did from 2015 to 2017. It is not a statistics book, but rather a book focusing on extracting adjustment rates. Nor is it a repeat of how to perform techniques that can be found in most any appraisal text book. It is more about which techniques work and which don’t work- and why. The key word in the title is “Research” as nothing in the book was simply restated from other books. The facts and concepts presented were the result of extensive scientific research. Most of the research consisted of setting up hypothetical situations and then running many thousands of monte carlo scenarios to estimate probabilities. You will be very surprised
to learn what the probability of getting the correct output is when one pair of sales is analyzed with matched pair analysis; I know I was. If you have this book or intend to purchase a copy- there are several short videos on my website that cover the math calculations in the book. They are listed by page numbers.