Property Valuation
An appraiser in Colorado uses 3 comparable sales to value a property. The adjusted values are $385,000, $392,000, and $395,000. What is the most likely final value indication from reconciliation?
AThe average of the three: $390,667
BThe value closest to the subject's characteristics, given the most weight✓ Correct
CAlways the highest adjusted value
DThe median value of $392,000
Explanation
In reconciliation, the appraiser does not simply average comparable values. Instead, they give greatest weight to the comparable that is most similar to the subject property and required the fewest adjustments. The final value reflects professional judgment.
Related Colorado Property Valuation Questions
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