Property Valuation
In New York, a 'paired sales analysis' in the sales comparison approach is used to:
AFind two properties that sold on the same day
BIsolate and quantify the value contribution of a specific feature by comparing two otherwise identical sales that differ only in the presence or absence of that feature✓ Correct
CCompare a property's current value to its prior sale price
DMatch a buyer's offer with a seller's counteroffer
Explanation
A paired sales analysis (or matched pairs analysis) is an appraisal technique used to extract the market-based adjustment for a specific feature. The appraiser finds two sales that are identical in all respects except the feature being studied (e.
Related New York Property Valuation Questions
- The principle of 'substitution' in real estate appraisal states that:
- The principle of 'conformity' states that:
- The GRM (Gross Rent Multiplier) approach is most commonly used for:
- In New York, a property owner who disagrees with the assessed value may file a:
- Which type of depreciation affecting a property near a New York highway (due to traffic noise) is BEST classified as?
- In the cost approach to value, 'reproduction cost' differs from 'replacement cost' in that reproduction cost is the:
- In New York appraisal practice, 'highest and best use' is defined as the legally permissible, physically possible, financially feasible, and maximally productive use that results in:
- In New York City, what is 'assessed value' as used for property tax purposes?
Practice More New York Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free New York Quiz →