What are alternative valuation methods in appraisals expected to provide?

Alternative valuation methods in appraisals are expected to provide valuations using multiple listing service (MLS) data analysis. These methods allow appraisers to leverage comprehensive databases of property listings and sales, facilitating a more accurate and broad view of market conditions. By analyzing this data, appraisers can identify trends, comparable sales, and market demands that may not be evident through a physical inspection alone.

This approach is beneficial because it incorporates a wider range of market data, leading to a more data-driven valuation. Rather than relying solely on physical inspections or personal assessments, which can be subjective and limited, MLS data provides objective, up-to-date insights into property values. Furthermore, these methods help appraisers understand the nuances of different markets, informing decisions based on statistical analysis and market trends.

The other options focus on narrower aspects of the appraisal process, such as physical inspections, previous sales data without broader context, or subjective personal assessments, which do not encompass the comprehensive nature of alternative valuation methods that utilize MLS data.