Property Valuation
An appraiser in Alaska uses the sales comparison approach and finds three comparable sales. After adjustments, the adjusted values are $310,000, $315,000, and $312,000. The most likely estimate of value using reconciliation would be:
A$310,000
B$312,000✓ Correct
C$315,000
D$337,000
Explanation
In reconciliation, the appraiser does not simply average the adjusted values but weighs them based on the quality of comparables and adjustments. The most reliable comparable (fewest adjustments) receives the greatest weight. $312,000 is the median and represents a reasonable reconciled value.
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