Property Valuation
An Iowa appraiser finds three comparable sales for a subject property. Sale 1 is $225,000, Sale 2 is $231,000, and Sale 3 is $228,500. After adjustments, the appraiser concludes $229,000. This process is called:
AAveraging
BReconciliation✓ Correct
CEqualization
DRegression analysis
Explanation
Reconciliation is the appraisal process of analyzing and weighing the results from multiple comparable sales to arrive at a final value conclusion. It is not a simple average but a professional judgment of the most reliable indicators.
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