ADEQUACY AND RELEVANCE OF THE DATA AND APPROPRIATENESS OF THE ADJUSTMENTS Sample Clauses

ADEQUACY AND RELEVANCE OF THE DATA AND APPROPRIATENESS OF THE ADJUSTMENTS. The appraisers have sufficient data with 4 vacant land sales. The sales are all located west of Stillwater with frontage on or near SH-51. The sales therefore, bear a locational similarity to the subject and are relevant to use in the subject’s valuation. The sales are moderately inferior and superior to the subject so that the appraisers made only small adjustments to arrive at a value between the extremes of the comparable sales. To bracket the subject with sales that are inferior and superior is an appropriate and relevant technique. The appraisers logically adjusted their high sales downward and the low sales upward. The improvements were valued by using , a national data source of improvement values that do not usually sell in the open market. Given the age and condition of the buildings, the use of was appropriate. As for the fencing, the reviewer would have preferred a quote from a local fencing contractor, but is adequate. Ideally, the appraiser would have cited the Section and Page used from when valuing the improvements. However, given the detail of the work-up in the addenda section of the report, the use of the source had to be legitimate. While the land data is of sufficient quantity and highly relevant with appropriate adjustments, the improvement data is only adequate in the absence of market and local contractors. Therefore, the market of the appraisers is adequate and appropriately adjusted.