Property Valuation (alternative)
The correlation (reconciliation) step in a Maryland appraisal involves:
AAveraging all value indicators equally
BWeighing the value indicators from each approach based on their relevance and reliability✓ Correct
CSelecting the highest indicated value
DChoosing the income approach result exclusively
Explanation
Reconciliation is the process of weighing and analyzing the different value indications from each appraisal approach (sales comparison, cost, income) and arriving at a single final opinion of value based on their relative reliability.
Related Maryland Property Valuation (alternative) Questions
- The highest and best use in Maryland appraisal is defined as the use that is:
- In Maryland, a 'mass appraisal' conducted by SDAT differs from an individual property appraisal because:
- A Maryland neighborhood with predominantly aging, poorly maintained properties and declining values is said to be in a phase of the property cycle known as:
- When comparing sales in the same Maryland neighborhood, an appraiser should give the most weight to comparables that are:
- The 'economic rent' of a property exceeds the 'contract rent' when:
- In Maryland, when an appraiser 'brackets' the subject property with comparables, this means they select:
- Under USPAP, a Maryland appraiser who is asked to provide a specific predetermined value by the lender must:
- Maryland appraisers are required by USPAP to disclose when:
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