Property Valuation
The sales comparison approach to value is MOST appropriate for:
AIncome-producing properties such as apartment complexes
BSpecial-use properties such as churches and schools
CSingle-family residential properties with ample comparable sales✓ Correct
DProperties that are newly constructed and have never been sold
Explanation
The sales comparison (market data) approach is most reliable for single-family residential properties where recent comparable sales are available, because it reflects actual market behavior.
Related Arizona Property Valuation Questions
- An Arizona appraiser who finds that the subject property has superior lot size compared to a comparable sale will make a(n):
- In the income approach, if an Arizona property has an NOI of $72,000 and sold for $900,000, what is the overall capitalization rate?
- In Arizona, an 'as-is' appraisal differs from an 'as-completed' or 'subject-to' appraisal in that:
- In Arizona, when comparable sales are limited, an appraiser may use 'expanded geographic area' searches. This means the appraiser:
- An Arizona appraiser who uses only 2 comparables in the sales comparison approach is:
- When an appraiser adjusts a comparable sale upward by $5,000 for a feature the subject has but the comparable lacks, the adjustment means:
- Arizona uses a 'limited cash value' assessment system where residential property is assessed at a percentage of its full cash value. The standard assessment ratio for residential property in Arizona is:
- Economic life of a building in the cost approach refers to:
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