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| The Review of Real Estate Appraisals Using
Multiple Regression Analysis Author: Hans R. Isakson Start Page: 177 Abstract: A technique is presented that enables review appraisers to test the
work of other appraisers. The technique is based upon the simple assumption that the
covariance between the adjusted selling price of comparable properties and the property
characteristics for which adjustments are properly made is near zero for a given subject
property. In a test of the underlying theory of the technique using pooled appraisal
reports, the theory is supported. Also, another set of appraisals is pooled to demonstrate
how the technique can identify the presence of improper adjustments. Finally, applications
and limitations of the technique are discussed. |
