Property Valuation
When appraising a single-family home in Trenton, NJ, an appraiser would define the 'neighborhood' for analysis purposes as:
AThe entire city of Trenton
BThe area with homogeneous land uses, typically within 0.5 to 1 mile radius of the subject, sharing similar value influences✓ Correct
COnly the immediate block
DThe entire Mercer County market
Explanation
The appraisal neighborhood is the area of contiguous land use that shares common value influences and characteristics with the subject property—typically a defined radius or natural boundaries with homogeneous housing stock and market conditions.
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