Ellwood technique is a technique used to estimate the present value of the property. It is a valuation process used to determine loan amortization, time value of money, and property appreciation and depreciation. The technique was developed by L.W. Ellwood, author of the Ellwood Tables. Under Ellwood technique, the Appraiser determines and discounts to a present value the annual cash flow to the equity owner and the expected resale proceeds. Those amounts are added together to derive the equity value, and then added to the mortgage balance to offer a property value estimate.