Property Valuation
What is a 'paired sales analysis' in appraisal practice?
AComparing two properties in the same subdivision
BAnalyzing two similar sales that differ in only one feature to isolate the market value of that feature✓ Correct
CThe process of matching comparable properties to the subject
DEvaluating two offers on the same property
Explanation
Paired sales analysis involves comparing two otherwise identical sales that differ in only one characteristic (e.g., one with a pool, one without) to isolate and quantify the market's reaction to that specific feature.
Related Delaware Property Valuation Questions
- The income capitalization approach to value is most appropriate for:
- A property's land-to-building value ratio is important in the cost approach because:
- An appraisal is an opinion of value that must be prepared by:
- A Delaware property is assessed at $180,000 with an assessment ratio of 60% of market value. What is the estimated market value?
- In the income approach to value, a lower capitalization rate results in:
- In an appraisal, what is an 'adjustment' in the sales comparison approach?
- The income approach to value relies primarily on:
- Functional obsolescence in an appraisal refers to:
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