Awareness

One of the most amazing things I expected, but did not really understand (as with most new experiences) is how this new gig is changing my view.  Sometimes standing in a different place allows us to see new things.  As a review appraiser, I assumed I would see a number of different appraisal reports, styles of writing, and varying implementation of analysis techniques.  What I did not count on was how it is changing me.

I am privileged to have been given this opportunity to learn.  There are some amazing real estate appraisers in our East Tennessee/Chattanooga market that do a terrific job of analyzing markets and communicating those analyses.  Often appraisers suffer limited market evidence about values, and  particularly in the past five to eight years.  When a market declines, lenders are more reticent to make loans, fewer purchasers make buying decisions, and tenants move less.

As appraisers, we have therefore been challenged with fewer data points to analyze. In the case of these appraisals I am reading now for condemnation cases, the appraisers have stepped up to the plate. They provided an unexpected level of clarity through their analysis of markets and market evidence.

I am grateful to be able to read these reports and be exposed to what these appraisers are modeling in their reporting.  I intend to implement what I am learning.

Note to self:  Education without action is simply entertainment.