Property Valuation
A Mississippi appraiser adjusts for a comparable sale that occurred 12 months ago. The purpose of the time adjustment is to:
AAccount for inflation in the general economy
BReflect any change in market conditions between the comparable's sale date and the appraisal's effective date✓ Correct
CAdjust for the age difference between the subject and the comparable
DAccount for seasonal variations in the market
Explanation
Time adjustments account for changes in market conditions (appreciation or depreciation) between the date the comparable sold and the effective date of the appraisal, making the comparable more relevant to current value.
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