What is the most appropriately rounded final value opinion according to appraisal standards?

The most appropriately rounded final value opinion in appraisal standards is typically based on common practices used in the industry for round numbers, particularly in residential appraisals. In this case, the figure of $384,700 is a value that reflects a precise estimate while also considering the common rounding practices used in real estate transactions.

When appraisers present their final value opinions, they often aim to use figures that are both specific and simple for potential buyers and sellers to understand. The number $384,700 represents a balance between presenting a specific valuation and avoiding overly precise values that may not reflect the actual market.

Rounded values also play a critical role in communicating appraisals effectively. For instance, while options like $384,500 or $385,000 may seem like reasonable options, the final figure should ideally reflect a value that fits the market context and aligns with typical transaction terms, such as ending in zero or five for ease of understanding. In this context, $384,700 stands out as the most precise rounded figure that maintains a practical yet recognizable valuation to stakeholders involved in real estate transactions.