Property Valuation
A Connecticut appraiser finds that a comparable property has an extra half-bathroom compared to the subject property. The appraiser will make a:
APositive adjustment to the subject
BNegative adjustment to the comparable (because it is superior to the subject in this feature)✓ Correct
CNo adjustment
DPositive adjustment to the comparable
Explanation
When a comparable is superior to the subject in a feature, a negative adjustment is made to the comparable's price to equalize it with the (inferior) subject. 'Adjust the comp, not the subject.'
Related Connecticut Property Valuation Questions
- An appraiser's final value conclusion is $485,000 for a Connecticut single-family home. The sales comparison approach indicated $490,000, the cost approach indicated $470,000, and the income approach was not applicable. The appraiser placed most weight on the sales comparison approach. This process is called:
- A Connecticut property's listing price is $550,000 and it sells for $565,000. The sale-price-to-list-price ratio is:
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- Regression, as an appraisal principle, means that:
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- In the Connecticut sales comparison approach, an adjustment for a larger garage at the subject property compared to a comparable is a:
- A Connecticut property recently sold for $630,000. If the annual property taxes are $9,450, what is the effective tax rate as a percentage of the sale price?
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