Property Valuation
A Mississippi appraiser is appraising a single-family home and identifies comparable sales in the same neighborhood within the past 6 months. The primary reason for using recent sales is:
AOlder sales are not legally admissible in appraisals
BRecent sales most accurately reflect current market conditions and buyer/seller motivations✓ Correct
CUSPAP prohibits using sales older than 6 months
DRecent sales require fewer adjustments
Explanation
Recent comparable sales most accurately reflect current market conditions, buyer motivations, and economic factors affecting value. While USPAP does not set a rigid 6-month limit, appraisers prefer recent sales because markets change and older data may not reflect current value.
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