Change

All property is influenced by the principle of change.  As a result of change, value is subject to fluctuation.  This is the reason that an appraisal is done "as of" a certain date.  This is also why an appraiser must consider market conditions at the time of the appraisal.

 

Change may be caused by:

 

•Natural phenomena

•Changes in the market

•Political influences

•Etc.

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