Property Valuation
A Nevada appraiser is asked to value a single-family home. Which approach is typically given the most weight for this property type?
AIncome approach
BCost approach
CSales comparison approach✓ Correct
DGross rent multiplier approach
Explanation
For residential single-family homes, the sales comparison approach (also called market approach) is typically given the most weight because there are usually sufficient comparable sales. The income approach is more relevant for investment properties, and the cost approach is more applicable to new construction or special-use properties.
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