Property Valuation
In Michigan, the 'paired sales analysis' technique in appraisal is used to:
AFind two properties in the same neighborhood
BIsolate the contributory value of a single feature by comparing sales that are identical except for that feature✓ Correct
CAverage the value of two comparable sales
DDetermine the market value of a duplex
Explanation
Paired sales analysis identifies two properties that are similar in all characteristics except one, then uses the price difference between their sales to measure the market value of that differing feature. This technique supports adjustments in the sales comparison approach.
Related Michigan Property Valuation Questions
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- In Michigan, 'market conditions adjustments' in a sales comparison appraisal account for:
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