An appraisal report marks neighborhood property values as stable. One comparable, however, went under contract during a brief dip in prices several months earlier, and the appraiser has support for a positive market-conditions adjustment. Is that acceptable?
Correct Answer
B) Yes, because a specific comparable can require a time adjustment even when the overall neighborhood trend is reported as stable
Yes. The overall neighborhood trend category and a specific comparable’s time adjustment are related but not identical. Official guidance recognizes that different comparables can require positive, negative, or no market-condition adjustment depending on how prices changed between that comparable’s contract date and the appraisal’s effective date.
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A trainee appraiser finds a promising comparable in an online listing database, but the entry does not clearly state the property condition, financing terms, or whether seller concessions were involved. What is the best next step?
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While preparing a CMA, Leo sees that similar homes closed between $495,000 and $505,000, but a nearly identical active listing at $519,000 has sat on the market for 45 days with little activity. How should Leo use that active listing most appropriately?