Historical appraisal in Phoenix is strongest when the selected period is treated as its own market rather than as an old version of today's value. Comparable sales should reflect the subject's actual residential setting rather than treating the city boundary as a market. The earlier period should be treated as its own market rather than viewed through today's completed development and remodeled housing stock.
Historical valuation should not be a current value pushed backward by a percentage. The assignment needs evidence from the selected period, including the subject's condition, property rights, competitive setting, and the alternatives buyers actually had. For Phoenix, the appraisal should consider historic districts only when it changes the subject's competitive position.
During the historical period, comparable sales should reflect the subject's actual residential setting rather than treating the city boundary as a market. Phoenix is divided into distinct planning villages, and buyer behavior often becomes more specific at the neighborhood level. Period-specific records and sales are more useful than present-day assumptions when this characteristic changed over time.
An old sale is not automatically a good historical comparable. The appraiser should understand the transaction, the neighborhood stage, the property's condition, and whether the sale reflected the same residential market during the period being studied.
Historical maps, listings, permits, photos, and ownership records can prevent later development or remodeling from being projected backward. The strongest record links those documents to market evidence from the same period.
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