Property Valuation
A Maine appraiser estimates a home's value at $310,000 using the cost approach, $325,000 using the sales comparison approach, and $290,000 using the income approach. For a primary residence, the appraiser would most likely weight which approach most heavily?
AThe cost approach
BThe sales comparison approach✓ Correct
CThe income approach
DAll three approaches equally
Explanation
For residential properties, the sales comparison approach is typically given the most weight because it directly reflects current market conditions and buyer behavior.
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