Property Valuation
In Hawaii, what is 'comparable selection' in the appraisal process?
AA. Selecting comparable properties from any price range
BB. Identifying recently sold properties that are sufficiently similar to the subject to be valid value indicators✓ Correct
CC. Selecting only new construction as comparable sales
DD. Choosing the three highest priced sales as comparables
Explanation
Comparable selection requires finding properties with physical and economic similarity to the subject that have sold recently under market conditions, providing valid basis for value adjustments.
Related Hawaii Property Valuation Questions
- What is 'effective age' versus 'chronological age' in real estate appraisal?
- What is a 'land residual technique' in appraisal and when is it used?
- What is 'value in use' versus 'value in exchange' in real estate valuation?
- What is 'allocation method' for land valuation and when is it used in Hawaii?
- In Hawaii, 'assemblage' in real estate refers to:
- What is 'insurable value' and how does it differ from market value?
- What is an 'income-expense analysis' in Hawaii rental property evaluation and what line items does it include?
- What is a 'green building' appraisal and how are energy-efficient features valued in Hawaii?
Practice More Hawaii Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Hawaii Quiz →