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AN INTRODUCTION TO AN OPTIMAL REAL ESTATE ASSESSMENT
Abstract
An assessment of a market property value has been a subject of a debate among appraisers for many years. Some of them believe that the пїЅpowerпїЅ of statistics is so tremendous that in each situation an appraisal should be based on statistical methods. On the other hand, the other group off appraisers with a considerable experience, strongly support an actual expert assessment. For practitioners statistics is usually only an additional tool used rather to confirm a presented thesis. The dispute lasting for years is not resolved due to the lack of reference plane. On the basis of literature study, the author suggests a way to reconcile these two approaches. The proposed model is based on a causality analysis scheme pertaining to the real estate market. A conception of conducting a real estate market research according to this scheme seems to be more optimal, as it is a mingle of the two approaches that eliminates their weaknesses.
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