Property Valuation
In Hawaii, what is a 'market conditions adjustment' in the sales comparison approach?
AA. An adjustment for different property sizes
BB. An adjustment to account for changes in market conditions between the date of a comparable sale and the date of the appraisal✓ Correct
CC. An adjustment for the property's proximity to the market center
DD. A neighborhood condition rating that affects value
Explanation
A market conditions (time) adjustment accounts for property value changes between when a comparable sold and the effective appraisal date, reflecting appreciation or depreciation.
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