Property Valuation
An appraiser making a 'time adjustment' on a comparable sale is adjusting for:
AThe age of the comparable property
BChanges in market conditions between the comparable's sale date and the appraisal date✓ Correct
CThe time it took to negotiate the comparable sale
DDifferences in property age between the subject and comparable
Explanation
A time adjustment (market conditions adjustment) accounts for appreciation or depreciation in the real estate market between the date the comparable sold and the current appraisal effective date.
Related Massachusetts Property Valuation Questions
- In Massachusetts, an appraiser analyzing an investment property with expiring below-market leases would use what approach to capture their impact?
- A Massachusetts vacation property near Cape Cod is most influenced by which factor in its valuation?
- Which appraisal approach is most appropriate for valuing a single-family residence in a neighborhood with many recent sales?
- A Massachusetts appraiser analyzes the 'market conditions' for a neighborhood report. Key market indicators include:
- A Massachusetts property's effective gross income is calculated as:
- Which Massachusetts property would most likely be appraised using the cost approach as the primary method?
- A Massachusetts appraiser adjusts a comparable that is a corner lot (which typically has a premium in value) while the subject is an interior lot. The appraiser should:
- Massachusetts assessors are required to conduct a 'revaluation' of all properties in their municipality at least once every:
Practice More Massachusetts Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Massachusetts Quiz →