What should appraisers focus on during the data collection phase?

During the data collection phase, appraisers should concentrate on market changes and trends because this information provides the foundation for determining a property's value. Understanding the current market conditions, including supply and demand dynamics, changes in buyer preferences, and shifts in local real estate values, is critical for formulating an accurate appraisal. By remaining informed about market trends, appraisers can ensure that their assessments reflect the true value of properties based on comparable sales and other relevant data.

Other factors, such as property interior design and local events affecting property values, while relevant in specific circumstances, do not provide the broad analytical framework needed for a foundational market analysis. Additionally, setting personal opinions about the property introduces bias, which can undermine the objectivity required for appraisals. Focusing on reliable, quantifiable data about market activity allows appraisers to produce credible and defensible valuations.