WHERE THE METHODOLOGY WAS BORN
From comp-picking to market analysis.
This practice started in 1997 on DOS-based appraisal software, printing reports where photos were taped or glued in by hand and maps had stick-on arrows marking comparable sales. The industry standard of three comps was never a best practice — it was a workaround for limited data availability. When that was all you had access to, three was often all there was. Thousands of appraisals, REO assignments, BPOs, and field reviews built a deep foundation, but they also made something clear: the conventional approach was designed around the constraints of its era, not around accuracy.
As technology and data access expanded, the methodology should have evolved with it — but for most of the industry, it didn't. Working as an appraiser for the Maricopa County Assessor's Office introduced mass appraisal methodology: analyzing the entire market and filtering down rather than selecting individual comparables up. Membership in the Community of Asset Analysts (CAA) and subscribing to The Appraiser's Analytical Resource (TAAR) provided the statistical framework to formalize what field experience had been pointing toward for years. The result is not just a more accurate process — it is a faster one. When the data does the work, the appraiser spends less time hunting for comps and more time understanding what the market is actually doing. LPA is where that evolution continues, and where The HMI Project methodology was conceived.