Property Valuation
When appraising a Kentucky single-family home in a stable market, the appraiser should select comparable sales that are ideally:
AFrom anywhere in the state
BWithin the same neighborhood or competing area, within the past 6-12 months✓ Correct
COnly from the same street as the subject property
DOnly from the past 30 days
Explanation
Comparable sales ideally come from the same or competing neighborhoods and should be as recent as possible (within 6 months preferred, with market conditions adjustment if older). Geographic proximity and market similarity ensure the comparables reflect conditions relevant to the subject.
Related Kentucky Property Valuation Questions
- A Kentucky residential property's value is depressed because it is located next to a busy commercial truck stop. This is an example of:
- When making adjustments in the sales comparison approach, if a comparable property has a feature the subject property lacks, the appraiser should:
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- An appraiser is comparing two homes, one with a garage and one without. To adjust for the garage, the appraiser would:
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