Property Valuation
A Connecticut appraiser uses 'paired sales analysis' to determine the value contribution of a garage. This technique involves:
AAnalyzing two garages that sold separately from the main property
BComparing the sale prices of two otherwise identical properties—one with a garage and one without—to isolate the garage's value contribution✓ Correct
CPairing the appraiser's estimate with the listing agent's CMA
DUsing the county assessor's valuation for the garage
Explanation
Paired sales analysis (matched pairs) involves comparing two sales of properties that are identical except for the feature being analyzed (e.g., garage vs. no garage). The price difference isolates the market value contribution of that feature.
Related Connecticut Property Valuation Questions
- A 'paired sales analysis' is used by appraisers to:
- Which is true about a 'competitive market analysis' (CMA) prepared by a Connecticut real estate licensee?
- When using the sales comparison approach, an appraiser makes adjustments to comparables to account for differences with the subject property. If a comparable has a feature the subject lacks, the adjustment to the comparable is:
- An appraiser using the cost approach to value a property would:
- An appraisal report that provides a brief analysis with limited detail is called a(n):
- In the cost approach, 'reproduction cost' differs from 'replacement cost' in that reproduction cost is the cost to:
- If a Connecticut income property has an NOI of $90,000 and the market cap rate is 6%, what is the estimated value using the income approach?
- The highest and best use of a property is defined as the use that is:
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