Property Valuation
When a NJ appraiser makes a 'time adjustment' to a comparable sale, they are adjusting for:
AThe age of the comparable
BChanges in market conditions between the date of the comparable sale and the effective appraisal date✓ Correct
CThe time it took to close the comparable sale
DThe age of the improvement on the comparable
Explanation
A time adjustment (market condition adjustment) accounts for the appreciation or depreciation of values between when the comparable sold and the appraisal's effective date, ensuring comparisons reflect current market conditions.
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