Property Valuation
In New Mexico, 'market conditions adjustments' in an appraisal are made to comparable sales to account for:
ADifferences in property size
BChanges in market prices between the comparable's sale date and the subject property's effective date of appraisal✓ Correct
CThe distance between comparables and the subject
DThe condition of the comparables
Explanation
Market conditions adjustments (time adjustments) account for the fact that real estate prices change over time. If the market has appreciated since the comparable sold, a positive adjustment is made to the comparable's price to reflect current market conditions.
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