Property Valuation
In a declining Louisiana real estate market, which adjustment would an appraiser typically make to older comparable sales?
AA positive (upward) adjustment to reflect current lower values
BA negative (downward) adjustment to reflect the market decline since the comparable sold✓ Correct
CNo adjustment — comparable sales prices are always used as-is
DAn adjustment only if the sales are more than 12 months old
Explanation
In a declining market, older comparable sales occurred when prices were higher. Appraisers make a negative (downward) market condition adjustment to reflect the current lower values, bringing the comparable into line with today's market.
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