Property Valuation
A NH appraiser who values a vacation property on Lake Winnipesaukee uses comparables from Lake Sunapee because there are insufficient recent sales on Lake Winnipesaukee. This approach:
AIs ideal since all NH lakes are equivalent
BMay be appropriate if the lakes are truly comparable but requires explanation and possibly adjustment for lake-specific amenity differences✓ Correct
CIs prohibited by USPAP
DIs only allowed if the property owner agrees
Explanation
When primary-market comparables are scarce, appraisers may use sales from similar but different markets with explanation and appropriate adjustments. However, different lakes may have very different value profiles, requiring careful analysis.
Related New Hampshire Property Valuation Questions
- When comparing NH residential properties for the sales comparison approach, an appraiser should use comparables that:
- The principle of conformity in real estate valuation holds that:
- An appraiser in Concord, NH uses three comparable sales to estimate value. The sales are $310,000, $298,000, and $325,000 after adjustments. The appraiser's final value conclusion will:
- An appraiser making a paired sales analysis in NH finds that the only difference between two comparable homes is that one has a two-car garage and sold for $25,000 more. The appraiser would:
- An appraiser preparing a value for a NH 4-unit residential property would typically use the income approach as a primary method and the sales comparison approach as:
- A NH appraiser determines a value of $410,000 using the sales comparison approach and $390,000 using the cost approach. For a 20-year-old residential property, the appraiser would likely:
- A NH appraiser performing a desktop appraisal (no physical inspection) should be aware that:
- A NH appraisal of a historic colonial home in Portsmouth would note which factors unique to historic properties?
Practice More New Hampshire Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free New Hampshire Quiz →