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Is This Appraisal in Error (Part 1)?

An appraisal includes five comparables with the following adjusted prices per square foot: $103, $102, $74, $100, $102.  The $74 comparable appears to be an outlier relative to the four comparables hovering just above $100.  Outlier notwithstanding, the appraisal came in at $89 per square foot.  From a weighting standpoint, this result weights the approx. $100 comparables at about 14 percent each and weights the $74 comparable at about 46 percent! (See Part 2.)
  • June 19 2010 - San Antonio
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