When should an appraiser make an adjustment for a specific feature?

An appraiser should make an adjustment for a specific feature last, after adjusting for all other factors. This approach ensures that the appraiser first addresses the broader market conditions and other relevant variables that might influence the overall value of the property. For instance, adjustments for sales concessions and financing must be made initially, as these can greatly affect the perceived value of transactions in the market.

Addressing feature-specific adjustments last allows the appraiser to have a clearer picture of how the property compares to similar properties without the influence of temporary or external factors. Once the initial adjustments are completed, the appraiser can more accurately assess how these individual features—like additional bathrooms, upgrades, or special amenities—impact the property's value. Gathering this additional context before making specific adjustments helps maintain the integrity and accuracy of the final appraisal outcome.