What should an appraiser review when investigating property history?

When investigating property history, an appraiser should focus on previous sales, ownership changes, and improvements. This comprehensive review is essential because it provides valuable insights into the property's value over time.

Previous sales data helps the appraiser understand how the property's value has fluctuated in response to market conditions. Ownership changes may indicate factors such as the reasons for selling, which can affect the property's desirability. Moreover, any improvements made to the property can significantly impact its overall value, as upgrades often enhance functionality or appeal.

Reviewing these elements allows the appraiser to establish a more accurate and informed valuation based on historical context, rather than relying solely on current market conditions or isolated transactions such as those involving neighboring properties or just the initial purchase price.