Which appraisal approach is typically given the most weight when appraising a single-family home in Greensboro, NC?
Why Sales comparison approach Is Correct
Answer C: Sales comparison approach
Exam Tip: Property Valuation
Valuation questions focus on the three approaches to value: sales comparison, cost, and income. Know which approach is best for which property type. The income approach uses cap rate and NOI — memorize these formulas.
Key Property Valuation Terms in This Question
People Also Study
Related North Carolina Questions
- When appraising a single-family home in the Research Triangle Park area of NC, an appraiser gives MOST weight to which approach?Property Valuation
- An appraiser completing a sales comparison approach for a home in Chapel Hill finds a comparable that sold 8 months ago. The appraiser must make a:Property Valuation
- In the sales comparison approach, a positive adjustment to a comparable sale means:Property Valuation
- An adjustment in the sales comparison approach for a feature the subject property HAS but the comparable does NOT have requires the appraiser to:Property Valuation
Key Terms to Know
A professional estimate of a property's market value prepared by a licensed or certified appraiser.
Gross Rent Multiplier (GRM)A quick valuation metric for income properties calculated by dividing the property price by gross annual rental income.
Comparable Sales (Comps)Recently sold properties similar in size, condition, and location used by appraisers and agents to estimate a property's market value.
Debt-to-Income Ratio (DTI)A lender's measure of a borrower's monthly debt obligations relative to their gross monthly income, used to evaluate loan eligibility.
Math Concepts
Study This Topic
Practice More North Carolina Real Estate Questions
1,400+ questions covering all exam topics. Start free — no signup required.
Take the Free North Carolina Quiz →