Retrospective Appraisal

A retrospective appraisal estimates a property’s fair market value as of a specific past date rather than today. Common uses include: IRS estate tax filings (date of death), divorce community property valuation (date of separation), insurance claim disputes (date of loss), retroactive tax appeals, partnership dissolution accounting, and litigation involving past transactions. The methodology is USPAP-compliant and relies entirely on data available at the historical date.

We can perform retrospective appraisals going back decades when the historical data exists. The further back the effective date, the more research is required to reconstruct accurate comparable sales, market conditions, and economic factors. Most of our retrospective work falls within the last 1–10 years, but we’ve completed appraisals going back 20+ years when needed for trust administration or legal matters. The key is whether sufficient historical sales data is accessible.

We use a combination of: MLS historical archives (many MLS systems retain decades of data), public records (county recorder, assessor), tax records, prior appraisals or BPOs from the era, news archives for major market events, and sometimes interviews with brokers active in that market at the time. For older periods, we may also rely on aggregate market data, transaction databases like CoreLogic, and historical published indices.

Yes, when prepared by a Certified Residential Real Estate Appraiser following USPAP standards. A defensible retrospective appraisal documents: the data sources used, why each comparable was selected, what adjustments were applied and why, the market conditions analysis for the historical period, and the reasoning behind the final value opinion. The report should anticipate the questions an IRS examiner or opposing counsel would ask and answer them within the report itself.

Yes. Retrospective appraisals value the property as it existed on the historical date, not its current condition. If the property has been renovated, expanded, demolished, or altered, we appraise the pre-change version using historical photos, prior listings, permit records, and tax records to reconstruct the property’s state at the effective date. This is especially common in estate appraisals where renovations occurred after the date of death.