article thumbnail

Office Hours Information from March 2025

International Society of Appraisers

This is because we use different approaches for determining fair market value and replacement value. When determining fair market value, we use the sales comparison approach to analyze comparable sales data (i.e., Generally, replacement value exceeds fair market value. sold prices). current asking prices).

article thumbnail

The Appraisal Report: What It Includes and Why It Matters

Concept Appraisals

The market analysis goes a step further, studying the broader real estate market trends in the area, such as supply and demand dynamics, pricing trends, and the pace of sales. Together, these aspects paint a comprehensive picture of the external factors influencing a property’s value.