If a property requires further adjustments based on its condition, how should an appraiser proceed?

When a property requires further adjustments based on its condition, the appraiser should indeed make adjustments based on statistical data. This approach ensures that the adjustments are grounded in objective analysis, utilizing comparable sales data and market trends to assess how various conditions affect property value. By relying on statistical data, the appraiser can quantify differences in value due to specific characteristics of the property, such as its condition, location, and features, thereby creating a more accurate and reliable appraisal.

Using statistical data allows the appraiser to validate their adjustments and provides a defensible basis for the valuation. This method also promotes consistency and reduces the possibility of bias that might arise from a purely subjective assessment. Other approaches, like subjective analysis or fixed adjustment methods, may lack the empirical support needed for well-rounded property valuation.