When using the comparison approach, which adjustment would be most appropriate for a comparable property that sold 4 months ago in a rapidly appreciating market?
Correct Answer
B) Upward adjustment for time
In a rapidly appreciating market, an upward time adjustment would be appropriate because the comparable property likely sold for less than it would sell for today. The adjustment accounts for market appreciation over the 4-month period.
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When preparing a CMA, which property characteristic requires the most significant adjustment when comparing to the subject property?
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