Is appraisal accuracy measured by contract price? A new Guest Post from John Fariss, MNAA, a member of the Community of Asset Analysts. In recent discussions surrounding the accuracy of home appraisals, a critical flaw has emerged in the prevailing narrative: the assumption that the contract price is the correct value of a property. This misconception […]
Inferential statistics, at its core, is concerned with making inferences about a population based on a sample drawn from that population. It involves analyzing sample data to draw conclusions about the broader population because the broader population is either too large to analyze, unknown, or hypothetical. While invaluable in many scientific disciplines and research contexts, […]
Editor’s Note: Are You Using Big Data in Appraisals? is a first-time Guest Post from John Fariss, MNAA. John is the owner of Fariss Appraisal Services located in Bakersfield, CA. He is a frequent contributor to George Dell’s Valuemetrics.Info classes and a Moderator for the Community of Asset Analysts©. Recently John wrote an extensive article […]
