Property Valuation
In New Mexico, when comparable sales show significant variation in selling prices, an appraiser should:
AUse only the highest and lowest prices and average them
BAnalyze the reasons for variation, make appropriate adjustments, and explain the range in the report✓ Correct
CDiscard all comparables and use only the cost approach
DReport only the median value without explanation
Explanation
When comparable sales show significant price variation, the appraiser must investigate why—differences in condition, location, terms—make appropriate adjustments, and explain the variation and their value conclusion.
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