Property Valuation
In Michigan, which appraisal approach is typically given the most weight for a single-family residential property?
ACost approach
BIncome approach
CSales comparison approach✓ Correct
DGross rent multiplier approach
Explanation
For single-family residential properties in Michigan, the sales comparison approach (using recent comparable sales) is typically given the most weight because there are usually sufficient comparable sales and the approach directly reflects what buyers are actually paying in the market.
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