Property Valuation
An appraiser performing a residential appraisal in Maryland uses three comparable sales that sold 6 months ago. To adjust for market changes since the sales, the appraiser would make a:
ALocation adjustment
BTime (market conditions) adjustment✓ Correct
CGross living area adjustment
DLot size adjustment
Explanation
A time or market conditions adjustment accounts for changes in market prices between the comparable's sale date and the effective date of the appraisal.
Related Maryland Property Valuation Questions
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