Property Valuation
A NJ appraiser performing a retrospective appraisal as of a date 18 months ago would use:
ACurrent market sales adjusted to the past
BOnly sales that occurred before and around the effective date to reflect market conditions at that historical point in time✓ Correct
CAny available sales regardless of date
DOnly the cost approach
Explanation
A retrospective appraisal must reflect market conditions as of the specified past date. The appraiser uses sales that were available to market participants at that historical point in time, not current sales.
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