Property Valuation
An appraiser in New Mexico is reconciling value indications: Cost Approach = $320,000; Sales Comparison = $315,000; Income Approach = $310,000. For a single-family residence in Albuquerque, the appraiser will most likely give greatest weight to:
ACost Approach
BIncome Approach
CSales Comparison Approach✓ Correct
DAn average of all three
Explanation
For single-family residences, the Sales Comparison Approach is typically weighted most heavily because buyers make purchase decisions based on comparable sales — directly reflecting market behavior.
Related New Mexico Property Valuation Questions
- In New Mexico, the 'discounted cash flow' (DCF) analysis for income property determines value by:
- In New Mexico, when comparable sales show significant variation in selling prices, an appraiser should:
- In New Mexico, 'paired sales analysis' in appraisal is used to:
- In New Mexico, which type of appraisal approach would be most applicable for a special purpose property like a church or school?
- In New Mexico, when an appraiser selects 'comparable sales,' the most important factors are:
- In New Mexico, the 'principle of conformity' holds that:
- In New Mexico, an appraiser who values a property 'as if complete' for a proposed renovation project is providing what type of appraisal?
- In New Mexico, a 'desk review' appraisal involves:
Practice More New Mexico Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free New Mexico Quiz →