Why should an appraiser be cautious about a data source that reports only successful transactions?
Correct Answer
A) Withdrawn and expired listings also inform the market
Listing outcomes can supplement closed-sale evidence. Investigate why properties did not sell: withdrawal or expiration alone proves neither a price ceiling nor softening demand. These observations do not make completed sales inherently less reliable.
Why This Is the Correct Answer
Listing outcomes can supplement closed-sale evidence. Investigate why properties did not sell: withdrawal or expiration alone proves neither a price ceiling nor softening demand. These observations do not make completed sales inherently less reliable.
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Under the 2024 interagency AVM quality control rule, which of the following AVM uses is covered by the rule's quality control standards?
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