Property Valuation
In Michigan, when comparable sales show a wide range of values, the appraiser typically:
AUses the highest value to protect the lender
BUses only the most recent sale
CAnalyzes the data, makes appropriate adjustments, and reconciles to a single value estimate based on the most reliable and similar comparables✓ Correct
DAverages all comparable sales without adjustments
Explanation
When comparable sales show a wide range, Michigan appraisers analyze market data, make appropriate adjustments, weight the most reliable and similar comparables more heavily, and reconcile to a single, supportable value conclusion rather than simply averaging.
Related Michigan Property Valuation Questions
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