Property Valuation
Comparables used in the sales comparison approach should ideally be:
ALocated in any part of the state
BAs similar as possible to the subject property and located in the same market area, sold recently✓ Correct
CSold within the last 10 years
DOnly properties currently listed for sale
Explanation
The most reliable comparables are those that are similar to the subject property (in size, age, condition, and features), located in the same market area, and sold recently (typically within 6-12 months).
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