Market-specific price indexing is powerful and underused! It improves accuracy and precision of appraisals. It enables an objective market analysis. It forms a natural path from traditional, judgment-based appraisal to informative, evidence-based professional analyses. Best of all, it enables a sense of pride in appraisal work, while making it more fun! Market Price Indexing (MPI)© […]
Editor’s Note: This is Part 1 of a new series on Bias. Easy – Just don’t be biased. Don’t even think about it! Alternately, we can have the government regulate and require it! To know what ‘unbiasedness’ is, and how to achieve it, we have to be able to measure it. We cannot enforce anything, […]
Truth can be hard to swallow! I find their ‘truth’ not credible. Not believable. Why? Well, for one thing. One important thing. That belief conflicts with MY belief. Clearly, my beliefs are better than theirs! Anybody can see that. At least they should see that. How can they be so stupid? Brad Cable just sent […]
Editor’s Note: This is Part 3 of the series on Excess of Appraisers and how this cyclical phenomenon is affected by the five frictions of modernization. The emerging excess of appraisers is inevitable and recurring. We have questioned the first two of the five frictions on modernization: practices, standards, education, regulation and client expectation. In this […]
Evidence is shortly defined as “Something that shows proof.” It’s precisely defined in the law, and also addressed in philosophy and epistemology. Epistemology deals with methods, validity, and scope in the theory of knowledge. In the philosophy of science, evidence is what confirms (or not) your hypothesis. Evidence justifies belief, but only if respected. It […]
To regulate or improve something, you first measure it. The word credible appears in the most recent version of USPAP (©1999) some 276 times. The Uniform Standards of Professional Appraisal Practice as published from time to time by the Appraisal Foundation. The word credibility is used an additional 39 times, specifically as a measure of […]