Property Valuation
The sales comparison approach to value is MOST appropriate for valuing:
ANew hospitals
BSingle-family residential properties with sufficient market activity✓ Correct
CIncome-producing warehouses
DGovernment-owned buildings
Explanation
The sales comparison (market data) approach is most reliable for residential properties where there are enough recent, comparable sales to support meaningful adjustments.
Related New Jersey Property Valuation Questions
- In New Jersey, a property's assessed value for property tax purposes is set by the:
- In the sales comparison approach, adjustments are made to the comparable sales to:
- Economic (external) obsolescence differs from functional obsolescence because it is:
- Assemblage in real estate refers to:
- A NJ appraiser preparing a Uniform Residential Appraisal Report (URAR, Form 1004) for a single-family home is completing what type of appraisal?
- A direct capitalization approach to value uses which formula?
- Physical depreciation that is 'curable' means:
- In NJ, the term 'as-stabilized' value in an income property appraisal means the value:
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