Date of death
Heirs, executors and trustees need the value on the day the owner died, mainly for the tax basis of the inherited home. See our date-of-death appraisal page and our trust appraisal page.
Retrospective appraisal in Sacramento: what the home was worth then
A retrospective appraisal values a home as of a date in the past, such as a date of death, a date of separation or the day a property was gifted. Daniel R. Nelson, a licensed residential appraiser in Elk Grove, writes the report today and anchors every conclusion to the market and the property as they stood on that date.
BREA licensed
License AL3008584, active through 2028
$1,000,000 E&O insured
Errors & omissions coverage in force
Valued as of the date you need
Effective date set to your date, not today
Handled personally
Direct contact with the appraiser throughout
In plain terms
What a retrospective appraisal is
Every appraisal has an effective date, the date the opinion of value applies to. In most appraisals that date is the day of the inspection. In a retrospective appraisal it is earlier. The appraisal standards (USPAP) call this a retrospective value opinion; the type of value, usually market value, is stated separately.
It helps to keep three dates apart. The effective date is the past date being valued. The inspection date is when the appraiser actually saw the home. The report date is when the report is signed. A good retrospective report states all three, so nobody confuses what was seen today with what is being valued then.
Ordering one long after the date in question is normal, because the market on that date is a matter of record. Some people search for a “backdated” appraisal, which can sound improper. To be clear: the report is dated honestly, today, and the past date is the stated effective date.
Common uses
When people order a retrospective appraisal
The date is almost always set by an event, and the person who needs the value is usually working with an attorney or CPA.
Divorce
California courts generally value community assets as near as practicable to the time of trial, but an attorney can ask for another date after separation on a showing of good cause, and spouses can agree on a date in a settlement. Whatever date is chosen, we value that date. See divorce appraisals.
Gifts and trust funding
A gift of real estate is generally valued as of the date of the gift. If a home was transferred to a family member or an irrevocable trust, the value on that date may need support for a gift tax return. Moving a home into your own revocable trust usually needs no appraisal.
Income tax situations
Examples include a home converted to a rental, where the value on the conversion date can matter for depreciation, and a casualty loss, where the value before the loss matters. Your CPA will say whether it applies.
Bankruptcy and litigation
The value on a filing date or on the date of a dispute can decide how much equity a person can protect or what a claim is worth. Your attorney sets the date; we value it.
Past Prop 8 years
A retrospective appraisal can document market value on a January 1 lien date for a Prop 8 review. Deadlines apply; see property tax appeals.
How the work is done
How an appraiser values a past date
The method is the ordinary sales comparison approach, applied to the earlier date. The appraiser looks for sales that closed shortly before the effective date, and a few that closed soon after, in the same neighborhood and of similar size, age and condition. Those sales are adjusted to the subject home as it was then.
Market conditions on that date. Prices can move a lot in a few years, so the date matters. The appraiser reads the market as it was: the direction of prices, days on market and what buyers were paying that month. Hindsight is the main risk in this kind of work. Sales that closed well after the effective date are not used to pull the value toward today, though they may be checked to confirm that a trend was one a buyer or seller could reasonably have expected at the time.
The home as it was then. The appraiser records the home’s condition and features on the effective date, using listing photos, county records, permit history, prior appraisals and anything you can provide.
If the home has changed
What if the home is different today?
This is the most common worry, and it is usually manageable. The report values the home as it was on the effective date.
How changes since then are handled
- Remodeled or added to since: the later work is left out of the value, and the report says so.
- Deteriorated or damaged since: the value reflects the better condition on the earlier date, if the records support it.
- Sold, rented out or occupied by someone else: the appraiser may be unable to enter, and the report states what was and was not observed.
- Records are thin: the appraiser uses what exists and discloses any assumptions, which is what keeps the opinion defensible rather than a guess.
If the property can still be inspected, it is, because the exterior, layout, lot and surrounding street still tell the appraiser a great deal about the earlier date.
What to have ready
What to bring or send
- The property address and the exact effective date, with the reason you need it.
- Who ordered the report and who will receive it: attorney, CPA, trustee, mediator or lender.
- Any photos, videos or listing material from around the effective date.
- Records of work done before and after that date: invoices, permits, contractor estimates.
- A prior appraisal, county tax bill, or purchase documents, if you have them.
- Access arrangements: who can let the appraiser in, and whether anyone lives there now.
Not sure which date you need? Tell us the event, and confirm the date with your attorney or CPA; we value whichever date they give us. Missing paperwork is not a reason to wait. Call with what you have and we will say what the report can support.
Cost and turnaround
What it costs and how long it takes
A typical single-family home or condo is $400 to $500. Larger, rural, multi-unit or unusual properties are quoted individually. Extra effective dates, rush requests and court testimony are quoted separately, and you get the quote before any work starts.
The report usually arrives 3 to 7 business days after the inspection. A retrospective assignment can take somewhat longer when the research is historical, and the quote will say so honestly.
We appraise 1-4 unit residential property in 19 Northern California counties centered on Sacramento. See the service area and all services. Federal rules limit the property value a Licensed Residential appraiser can handle on lender transactions, but a private appraisal like this has no such value cap.
Common questions
Frequently asked questions
How far back can a retrospective appraisal go?
There is no fixed limit. Appraisals dated a few months back are routine, and many go back several years. The farther back the date, the more the work depends on records from that time, such as sales data, listing photos, permits and your own documents, so tell us the date and what paperwork exists when you ask for a quote.
Can the home be appraised if it has been remodeled, damaged or sold since the effective date?
Usually yes. The appraiser values the home as it was on the effective date, not as it is today. Photos, listing records, permits and the owner's or heirs' recollections help establish that condition. Where something cannot be confirmed, the report says so and states what was assumed, so the reader can see exactly what the opinion rests on.
Does the appraiser use sales that happened after the effective date?
The core of the analysis is sales that closed before or around the effective date. Later sales can be looked at only to check that a market trend was the kind a buyer or seller would reasonably have expected on that date. They are not used to move the value toward today's market.
Is a retrospective appraisal the same as a date-of-death appraisal?
A date-of-death appraisal is one kind of retrospective appraisal, where the effective date is the date the owner died. Divorce, gift, trust, tax, bankruptcy and litigation dates are others. The method is the same; only the date and the purpose change.
Will you tell me what value to expect before you start?
No. An appraisal is an independent opinion of value, and no honest appraiser can promise a number in advance. What we can tell you up front is the fee, the timeline, and what the report will and will not be able to support.
Need a value as of a past date?
Send the property address and the effective date for a quote, or call to talk through whether a retrospective appraisal fits your situation.
Important information about this service
Valley-Wide Appraisal Services provides independent real estate appraisal services only. Daniel R. Nelson is a licensed residential real estate appraiser, and is not an attorney, CPA, tax advisor, or estate planner. Nothing on this page is legal or tax advice, and it should not be relied on as a substitute for advice from your own professionals.
An appraisal is an independent opinion of value. It does not guarantee any court, tax, lending or assessment outcome, and which date applies to your matter is for your attorney or CPA to decide. Valley-Wide Appraisal Services does not prepare tax returns, represent anyone before the Internal Revenue Service or a court, or serve as a court-appointed Probate Referee.
Retrospective appraisals depend on the records available for the effective date. Where information cannot be confirmed, the report states the assumptions made.