Property Valuation
In New Mexico, which of the following best describes 'market conditions adjustment' in an appraisal?
AAdjusting for differences in property size between subject and comparables
BAdjusting comparable sale prices to account for changes in the market between the sale date and the effective date of the appraisal✓ Correct
CAdjusting for neighborhood differences
DAdjusting for the seller's concessions
Explanation
A market conditions adjustment (also called 'time adjustment') accounts for market appreciation or depreciation between when a comparable sold and the effective date of the appraisal.
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