Property Valuation
A Michigan appraiser notes the subject property has 3 bedrooms and 1.5 bathrooms, while all comparables have 3 bedrooms and 2 bathrooms. The appraiser should make a:
APositive adjustment to the subject property's value
BPositive adjustment to the comparable sales prices✓ Correct
CNegative adjustment to the comparable sales prices
DNo adjustment since bedroom count is equal
Explanation
The comparable is superior (has 2 full baths vs subject's 1.5 baths). To equalize, a positive adjustment is added to the comp (making the comp less valuable to match the inferior subject). The appraiser adds value to bring the comp down.
Related Michigan Property Valuation Questions
- A Michigan appraiser determines that the subject property's highest and best use as improved differs from its highest and best use as vacant. This typically means:
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- In Michigan, which of the following would NOT be considered a comparable sale for appraisal purposes?
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