The Appraisal Foundation’s Appraisal Practices Board (APB) adopted “APB Valuation Advisory #3: Residential Appraising in a Declining Market.” The APB is an independent board of The Appraisal Foundation, which is responsible for developing voluntary guidance on recognized valuation methods and techniques. 

APB Valuation Advisory #3: Residential Appraising in a Declining Market, includes guidance on: 

• How should an appraiser define a declining market?
• What databases are available to support a market trend conclusion?
• What are some alternative value definitions?
• Defining a market vs. a neighborhood
• Verification of data
• Support for adjustments
• Integration of the opinion of market trends into the appraisal analysis
• Using statistical tools to develop a rate of change in the market

To view a copy of the APB Valuation Advisory #3: Residential Appraising in a Declining Market please visit https://appraisalfoundation.sharefile.com/d/s312c40fc01b4987b.