Property Valuation
If a Florida appraiser notes that a property is in a neighborhood experiencing 'increasing' market conditions, this affects the sales comparison approach by:
ADecreasing comparable sale adjustments
BRequiring upward time adjustments to older comparable sales to reflect higher current values✓ Correct
CHaving no effect on adjustments
DRequiring lower cap rates in the income approach only
Explanation
In an appreciating market, older comparable sales are adjusted upward (positive time adjustment) to reflect the market improvement since the date of each comparable sale, ensuring the adjusted values reflect current market conditions.
Related Florida Property Valuation Questions
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