Property Valuation
In Minnesota's Twin Cities market, a residential appraiser should search for comparable sales within what general parameters?
ASame city only, regardless of similarity
BSimilar neighborhoods or market areas, recent sales, similar physical characteristics✓ Correct
COnly sales within the past 30 days in the entire metro area
DOnly sales at the same price point regardless of location
Explanation
Appraisers search for comparable sales with similar characteristics to the subject property: similar location/neighborhood, recent sales (typically within 6-12 months), and similar physical characteristics (size, age, style, condition). Expanding geographic and time parameters may be necessary in areas with limited sales activity.
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