Property Valuation
In the sales comparison approach, the appraiser makes adjustments to the comparable sales to account for:
AThe appraiser's personal opinion of value
BDifferences between the comparable and subject properties✓ Correct
CChanges in mortgage interest rates
DKentucky property tax rates
Explanation
In the sales comparison approach, the appraiser adjusts comparable sales prices upward or downward to account for differences in features, condition, size, or location compared to the subject property.
Related Kentucky Property Valuation Questions
- In Kentucky, when appraising a historic property in Bardstown, the appraiser may consider the value contribution of:
- When appraising a Kentucky horse farm, which approach to value is typically given the most weight?
- A Kentucky appraiser is performing a retrospective appraisal to determine value as of a past date for an estate. The appraiser must use data that was available:
- The gross rent multiplier (GRM) is calculated by:
- A Kentucky building has a replacement cost of $350,000 and has depreciated 20%. The depreciated value is:
- In Kentucky, the PVA reassesses property values:
- A Kentucky appraiser notes that a property's effective age is less than its actual age. This means:
- A Kentucky appraiser estimates physical depreciation for a 15-year-old building by dividing the building's age by its expected economic life. This method is called:
Practice More Kentucky Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Kentucky Quiz →