| Abstract: | This article explores the notion that appraisers respond to a very rapid change in any factor that will ultimately affect real estate values only after they witness the effects of this change in actual marketplace transactions. An analysis of 685 responses to a recent national appraiser survey suggests that a cause and effect relationship exists between their energy related market experiences and their energy awareness level. Market imperfections and the difficulty of predicting future energy prices are identified as barriers that inhibit the appraisers' ability to achieve a high level of energy awareness. |
