Sales Comparison Approach

The principle of substitution states that:

A comparable sale occurred 8 months ago for $450,000. Market conditions analysis shows property values have increased 0.5% per month. What is the adjusted sale price?

In the sales comparison approach, which adjustment sequence is most appropriate?

Which comparable selection criterion is MOST important when choosing sales for a residential appraisal?

In paired sales analysis, two similar properties sold for $385,000 and $365,000. The only significant difference is that one has a fireplace and the other does not. What is the indicated adjustment for a fireplace?

A comparable sale occurred 8 months ago for $250,000. Market analysis indicates prices have been increasing at 0.75% per month. What time-adjusted value should be used?

In a paired sales analysis, two similar properties differ only in that one has a garage and sold for $285,000, while the other without a garage sold for $270,000. What is the indicated adjustment for a garage?

A property sold 6 months ago for $300,000. Current market conditions show a 2% decline over the past 6 months. What is the time-adjusted value?

When selecting comparables for a residential appraisal, which of the following time parameters is generally considered most appropriate for recent sales?

A comparable property sold for $350,000 but has a swimming pool worth $15,000 that the subject property lacks. What is the adjusted sale price for comparison purposes?

A comparable sale occurred 8 months ago for $450,000. Market analysis indicates property values have been appreciating at 0.75% per month. What time adjustment should be applied?

A comparable property sold for $350,000 but is 200 square feet larger than the subject property. If the adjustment is $75 per square foot, what is the adjusted sale price?

Which condition of sale would require the MOST significant adjustment when using a comparable sale?

In the sales comparison approach, which adjustment sequence is generally recommended?

A property sold for $320,000 one year ago. If market conditions have improved by 6% since that sale, what is the time-adjusted sale price for comparison purposes?

In the sales comparison approach, a comparable sale that is superior to the subject property requires:

An appraiser is developing an opinion of market value for a 20-unit apartment building. The appraiser finds three comparable sales with the following information: Sale 1: 18 units, sold for $1,800,000; Sale 2: 22 units, sold for $2,200,000; Sale 3: 24 units, sold for $2,280,000. What is the average price per unit for these comparables?

On the URAR form, if an appraiser makes a $5,000 adjustment to a comparable sale for a two-car garage that the subject lacks, where should this be reflected?

When selecting comparable sales for the sales comparison approach, which factor is MOST important?

A comparable sale occurred 8 months ago for $350,000. Market data indicates property values have increased 0.5% per month. What is the time-adjusted value of this comparable?

A comparable sale shows unusual financing with a 2% interest rate loan assumption. This affects which element of comparison?

An appraiser is valuing a 2,000 sq ft home and finds a comparable sale of a 2,200 sq ft home that sold for $440,000. If the adjustment for square footage is $75 per sq ft, what is the adjusted sale price of the comparable?

A comparable sale occurred 8 months ago when the market was appreciating at 6% annually. What time adjustment should be applied to a $300,000 sale price?

In the sales comparison approach, which adjustment sequence is generally considered most reliable?

A comparable sale occurred 8 months ago for $450,000. Market analysis indicates property values have been increasing at 6% annually. What time adjustment should be applied?

A comparable property sold for $320,000 but has a garage worth $15,000 that the subject property lacks. What adjustment should be made to the comparable?

When selecting comparable sales for the sales comparison approach, which factor is MOST important?

A comparable property sold for $285,000 and has a two-car garage while the subject has a one-car garage. If a garage bay is worth $8,000, what adjustment should be made to the comparable?

When selecting comparable sales for a residential appraisal, which of the following is the LEAST important factor?

A subject property is 10% superior to a comparable sale in location. The comparable sold for $300,000. What adjustment should be made to the comparable?

An appraiser is valuing a property where a comparable sale occurred 8 months ago for $275,000. Market conditions have been appreciating at 0.5% per month. What time-adjusted price should be used for the comparable?

On a URAR form, if an appraiser makes a $5,000 upward adjustment to a comparable sale for a missing garage, where should this adjustment be reflected?

In the sales comparison approach, when a comparable property has a feature that is superior to the subject property, the appraiser should:

An appraiser is valuing a 2,400 square foot home. Comparable sales show a $45 per square foot adjustment is appropriate for size differences. If a comparable sale is 2,100 square feet and sold for $385,000, what is the adjusted sale price?

The principle of contribution states that:

In paired sales analysis, an appraiser finds two similar properties where one has a pool and sold for $385,000, while the other without a pool sold for $365,000. Both sales occurred on the same date. The indicated adjustment for a pool is:

In the sales comparison approach, a comparable sale that sold 6 months ago for $350,000 requires a time adjustment of +0.5% per month. What is the adjusted sale price?

In selecting comparable sales for a residential appraisal, which characteristic should be given the highest priority?

In paired sales analysis, Comparable Sale A sold for $285,000 with a two-car garage, while Comparable Sale B sold for $265,000 without a garage. Both properties are otherwise similar. What is the indicated adjustment for a garage?

In paired sales analysis, comparable sale A sold for $350,000 with a 2-car garage, while comparable sale B sold for $335,000 with a 1-car garage. Both properties are otherwise identical. What is the adjustment for the garage difference?

A comparable sale shows a transaction price of $300,000, but the buyer assumed a $20,000 special assessment for street improvements. The cash equivalent value of this sale is:

A comparable property is superior to the subject property in location, requiring a $15,000 downward adjustment. The comparable also has an inferior garage, requiring a $5,000 upward adjustment. If the comparable sold for $320,000, what is the adjusted sale price?

In the sales comparison approach, which adjustment sequence is generally preferred?

Market conditions adjustments should be based on:

The principle of anticipation in real estate valuation means that:

In paired sales analysis, two similar properties sold for $425,000 and $445,000 respectively. The only significant difference is that the higher-priced property has a fireplace while the other does not. What is the indicated adjustment for a fireplace?

In analyzing a comparable sale, an appraiser determines that the comparable is superior to the subject property due to a better location. The appropriate adjustment would be:

A comparable property sold 6 months ago for $250,000. Market analysis indicates property values have increased 1% per month. What is the adjusted sale price for market conditions?

In a paired sales analysis, two similar properties sold for $350,000 and $365,000. The only significant difference was that the higher-priced property had a fireplace. What adjustment should be made for a fireplace?

A comparable sale requires the following adjustments: +$5,000 for location, -$3,000 for condition, +$2,000 for size. If the sale price was $285,000, what is the adjusted value?