Property Valuation
When performing a comparable market analysis (CMA), a Georgia agent should select comparables that:
AA. Are identical to the subject property in all ways
BB. Have sold recently, are located in the same market area, and are similar in key features to the subject property✓ Correct
CC. Are priced as close to the desired listing price as possible
DD. Are located within exactly 1 mile of the subject property
Explanation
Good comparables for a CMA should be recent sales (usually within the last 6 months), located in the same or similar neighborhoods, and similar in key attributes (size, style, condition, amenities). The goal is meaningful comparison, not just proximity.
Related Georgia Property Valuation Questions
- When multiple appraisal approaches give different value indications, the final value conclusion involves:
- In the income approach, the 'direct capitalization' method converts income to value by:
- When appraising a property using the income approach, the capitalization rate is determined by:
- An appraisal done for a refinance is often based on the assumption that:
- An appraiser who determines that a property's 'highest and best use' is a multi-family development (rather than the existing single-family home) will typically value the land:
- The 'principle of progression' in real estate states that:
- In appraisal, the 'as-improved' value differs from the 'as-is' value in that:
- In Georgia, the basis for the state's property tax assessment is typically:
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