What is commonly identified as a deficiency in appraisal reports by state appraisal regulatory agencies?

A common deficiency identified by state appraisal regulatory agencies in appraisal reports is the lack of summary for the analysis. Appraisal reports are expected to not only present data but also synthesize this information in a clear and concise manner for users to understand the rationale behind the valuation. A summary is crucial as it provides context for the findings and conclusions drawn from the appraisal process. It helps communicate the appraiser's thought process and justification effectively, ensuring that stakeholders, including clients and regulatory bodies, can easily grasp the key points and the basis for the final value estimate.

While other aspects like providing market analysis, ensuring accuracy in property descriptions, and avoiding over-analysis of current listings are important, the absence of a summary can significantly hinder the effectiveness of an appraisal report. A well-constructed summary serves as a crucial tool for transparency and clarity, which regulatory agencies prioritize in the appraisal process.