Property Valuation
An Alaska appraiser is asked to provide a 'retrospective appraisal' as of the date of a fire three years ago. The appraiser must:
AUse current market data to estimate the past value
BUse market data and conditions as they existed at the retrospective effective date✓ Correct
CDecline the assignment as retrospective appraisals violate USPAP
DAdjust current value by an inflation factor
Explanation
A retrospective appraisal provides a value opinion as of a past date. The appraiser must use market data, conditions, and knowledge available as of the retrospective effective date — not current data — to provide an accurate historical value.
Related Alaska Property Valuation Questions
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