Which of the following is NOT a component of effective property appraisal?

The correct choice emphasizes that accessing personal opinions about the market is not a component of effective property appraisal. Property appraisal is fundamentally based on objective analysis and empirical data. This means that appraisers rely on quantifiable factors such as comparable sales data, property condition, location characteristics, and market trends rather than subjective or personal viewpoints.

Effective appraisers recognize the importance of understanding neighborhood dynamics, as these factors influence property values significantly. They analyze the area's demographic trends, economic conditions, and recent sales trends to gauge how these dynamics affect real estate values.

Additionally, evaluating property condition and improvements is crucial; it includes assessing the physical state of the property, the quality of construction, and any enhancements made that could add to its value. This empirical evaluation provides a solid foundation for the appraiser's judgment.

Lastly, utilizing advanced technology for data analysis supports appraisers in processing information efficiently and accurately, allowing for better-informed valuations. Technologies such as automated valuation models (AVMs) and geographic information systems (GIS) enhance the analysis process.

In summary, the effective property appraisal process relies heavily on objective data and systematic evaluations rather than personal opinions, making the third choice the one that does not align with the principles of effective property appraisal.