Property Valuation
When appraising an Oklahoma City neighborhood in a rapidly appreciating market, an appraiser must ensure comparables are:
AAt least 5 years old to show historical trends
BAs recent as possible and time-adjusted to reflect current market conditions✓ Correct
CSelected from the broadest geographic area possible
DFrom the same tax district only
Explanation
In rapidly appreciating markets, appraisers must use the most recent comparable sales and apply time adjustments to account for price changes between the comparable sale date and the appraisal date, ensuring the opinion of value reflects current market conditions.
Related Oklahoma Property Valuation Questions
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