Market-based analysis of whether, and to what extent, adverse conditions are reflected in property value.
The existence of an adverse condition does not, by itself, establish a measurable loss in value. Analysis may require consideration of the condition, remediation or repair, market awareness, buyer behavior, comparable evidence, and the distinction between temporary and permanent impacts.
The valuation question is whether the market recognizes an effect and, if so, how that effect can be credibly measured.
