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RETROSPECTIVE APPRAISALS Elin Lake-Ewald, Ph.D., ASA, FRICS © Heather Gokhman, Research Assistant Each profession has its own complexities that require frequent clarification, not just for clients but for practitioners as well. In the appraisal field, one regulation that requires frequent clarification deals with past values. This regulation governing retrospective appraisals seems to tempt appraisers into offering their own interpretations, but it should not. A Retrospective Appraisal comes with an automatic stop sign once the effective date of valuation has been reached. After that point, there can be no more data collection. How then can it be misinterpreted so often? There is no question that the Uniform Standards of Professional Appraisal Practice (USPAP), governing this aspect of appraising, are sometimes scrambled, perhaps inadvertently, by practitioners, and therefore demand further exploration of the hard reality of this particular practice. The USPAP Handbook defines Retrospe...