What is the primary focus of Standard 1 in real property appraisal?

The primary focus of Standard 1 in real property appraisal is indeed the development of a real property appraisal. This standard outlines the overall framework and requirements that appraisers must follow to ensure that their work is credible and professionally valid. It emphasizes the need for appraisers to gather relevant information, analyze data appropriately, and apply the correct methodologies to arrive at their opinions of value.

By focusing on the development process, Standard 1 ensures that all appraisals are based on sound reasoning and thorough investigation. This includes understanding the scope of work required, identifying the appropriate market data, and ensuring that both qualitative and quantitative analyses are used effectively in the appraisal process. The integrity of the appraisal's development is vital for it to be reliable, usable, and accepted by clients, lenders, and regulatory bodies.