Appraisers do NOT have to stay within one mile

Jamie Owen, appraiser and author of Cleveland Appraisal Blog, had a really pertinent blog post that I wanted to share with my readers.  Please click this link to read his piece.  In short, the requirement to stay within one mile for comparable sales is a myth.

 

As always, comparable choice is that of the appraiser, but the appraiser should choose sales that are most comparable in terms of being logical alternatives to the subject property.