Market Approach Application Flashcards
7 cards from real SAEE practice questions. Tap to flip, then mark Knew It or Still Learning — missed cards come back until you master them.
Read the first 7 Market Approach Application flashcards as text
An appraiser should give the most weight in reconciliation to the comparable that is:
Answer: Most similar with the most verifiable data
The most comparable, best-verified sale carries the greatest weight in reconciliation.
A locational adjustment is required when a comparable is in:
Answer: A neighborhood with a different value level than the subject's
Differences in neighborhood desirability require a location adjustment.
When a comparable's price reflects a non-realty item like included furniture, the appraiser should:
Answer: Remove the value of the personal property
Personal property included in a sale must be removed to isolate real property value.
The market approach is generally considered most reliable for valuing:
Answer: Single-family residences with active comparable sales
Abundant comparable sales make the approach most reliable for typical residential property.
If two comparables indicate widely different values after adjustment, the appraiser should:
Answer: Re-examine the data and adjustments for error
A wide spread signals possible errors that warrant review before reconciliation.
An adjustment grid in the sales comparison approach primarily serves to:
Answer: Organize comparables and their adjustments side by side
The grid systematically displays each comparable and its adjustments for analysis.
The effective date of value in the market approach establishes:
Answer: The point in time to which all sales are adjusted
Comparable sales are adjusted to the effective date of the value opinion.