The key to a good market valuation is use of good comparable market transactions (armslength transactions.)  Too many appraisers today are still using REO and other non-armslength sales as comparables for sales and refinance transactions.  This has lead to an unnecessary excellerated decline in property values.   I was recently asked by an MAI, Appraisal Institute Member if I had changed my mind now that half of all transactions were REO sales.  My response was, have they changed the defination of Market Value?

The defination of market value is clearely defined, and has not changed.  if you have issues with a valuation in which inappropriate sales transactions were utilized please contact a consultant at: http://www.harriscompanyrec.com