Property Valuation
In NJ, when an appraiser adjusts for the difference in garage space between the subject property (2-car garage) and a comparable that has no garage, the adjustment reflects:
AThe cost to build a garage
BThe market's reaction to garage differences—what buyers actually pay more or less for the garage amenity in that market✓ Correct
CThe garage's square footage only
DThe price the seller paid to add the garage
Explanation
Appraisal adjustments are based on what the market pays for a feature difference, determined through paired sales analysis or other market data—not on the cost of the feature or the seller's investment in it.
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