Property Valuation
When appraising a property in a depressed market with few sales, an appraiser may place more weight on the:
AA. Sales comparison approach only
BB. Income or cost approach if the sales comparison approach yields insufficient comparable data✓ Correct
CC. Seller's asking price
DD. Tax-assessed value
Explanation
In markets with insufficient comparable sales, appraisers may give more weight to the income or cost approach. The appraiser selects the most appropriate and reliable approach given the property type and available data.
Related Georgia Property Valuation Questions
- An appraiser who assigns a value above the contracted purchase price to justify a pre-determined value is committing:
- The 'band of investment technique' in the income approach is used to:
- When performing a comparable market analysis (CMA), a Georgia agent should select comparables that:
- A 'recapture rate' in the income approach accounts for:
- In Georgia, the basis for the state's property tax assessment is typically:
- The gross income multiplier (GIM) for annual rents is calculated as:
- The income approach to value is LEAST appropriate for which property type?
- A 'before and after' method is used in appraisal when:
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