In the reconciliation process of an appraisal, what does the appraiser never do to the value indications of the comparable properties?

In the reconciliation process of an appraisal, the appraiser does not typically average the value indications of the comparable properties. This step is crucial because averaging can lead to misleading conclusions about a property’s value. Each comparable property may have unique characteristics and varying degrees of relevance to the property being appraised. Therefore, simply averaging their values fails to account for the nuances and specifics that affect each property's market standing.

Instead, the appraiser reviews and weighs the value indications based on their comparability and relevance, summarizing the data to arrive at a reconciled value. This allows the appraiser to form a more nuanced and accurate estimate that reflects the true market value. Other processes like extrapolating, summarizing, and consolidating value indications might be used within the framework of reconciliation to draw insights and reach a final value, but averaging would dilute the critical analysis required for effective appraisal.