Prior Effective Date
Retrospective Appraisals
A retrospective appraisal answers a different question than a current appraisal: not what a property is worth today, but what it was worth on a specific date in the past.
What a retrospective appraisal is
A retrospective appraisal is a residential appraisal with an effective date earlier than the date the report is prepared. The appraiser researches and analyzes the market as it existed on that earlier date, relying on comparable sales and market conditions that were available then rather than on current activity.
This distinction has practical consequences. In a market that has moved — in either direction — a value as of two years ago may differ materially from a value today. The data set is also fixed: comparable sales that closed after the effective date generally cannot be treated as though a buyer or seller could have known about them at the time.
Because the analysis depends entirely on the stated date, the effective date is confirmed in writing before the assignment begins and is stated prominently in the report. Where the property's condition changed between the effective date and the present, the report addresses condition as of the effective date based on the information reasonably available.
Common circumstances
When a prior value may be the relevant figure
These are situations in which a retrospective value is sometimes needed. Not every one of these circumstances requires an appraisal, and whether one is needed in your matter is a question for you and your advisors.
Estate and date-of-death matters
Estate administration often requires the value of residential property as of the date of the owner's death. This is the most common reason a retrospective assignment is ordered.
Estate & date-of-death appraisalsMarital dissolution matters
Some dissolution matters use an earlier valuation date rather than a current one. Which date applies is determined by the parties, their counsel or the court — not by the appraiser.
Divorce appraisalsTrust and fiduciary accounting
Trustees and other fiduciaries sometimes need documentation of real property value as of a date when property entered a trust or changed hands.
Prior transactions and financial review
A past value may be relevant when reviewing a transaction, a transfer between family members, or a decision that was made at an earlier point in time.
Damage or condition questions
Where a property's condition changed at a known point in time, a value as of a date before or after that change may be the relevant figure.
Other documented needs
If your circumstance calls for a value as of a prior date, describe it in your request and the assignment can be scoped accordingly.
Before you order
What helps most with a retrospective assignment
The single most useful piece of information is the exact effective date. Beyond that, anything documenting the property as it existed on or near that date is helpful: photographs, listing materials, permits, records of remodeling or repairs, an inspection report, or a prior appraisal. None of these are required to begin a conversation, and they can be supplied as the assignment progresses.
If you are working with an attorney or accountant, it is often most efficient for them to confirm the effective date and the intended use before the assignment is ordered, since those two elements determine the scope of work.
Related appraisal services
Divorce Appraisal
Independent valuation for property division, mediation and related legal matters.
View pageEstate & Date-of-Death
Current or retrospective valuation for estate, probate and inheritance needs.
View pagePre-Listing Appraisal
An independent value opinion before listing, separate from a broker's pricing strategy.
View pageRequest a retrospective appraisal
Include the property address and the specific prior effective date you need. Washington State-Certified Residential Appraiser serving King, Pierce & Snohomish Counties.
Washington State-Certified Residential Appraiser · Serving King, Pierce & Snohomish Counties