Property Valuation
Which appraisal approach is most commonly used to value single-family residential properties?
ACost approach
BIncome approach
CSales comparison approach✓ Correct
DGross rent multiplier approach
Explanation
The sales comparison approach is typically the primary method for valuing single-family homes. It compares the subject property to recently sold comparable properties, making adjustments for differences to arrive at an indicated value.
Related Oklahoma Property Valuation Questions
- When appraising a luxury home in the Nichols Hills area of Oklahoma City, the appraiser would use comparable sales from:
- Accrued depreciation in the cost approach to appraisal is the sum of:
- An appraiser determines a subject property's value using the gross rent multiplier (GRM). The property rents for $1,800/month and comparable properties sell for 120 times monthly rent. The estimated value is:
- The sales comparison approach to value is most appropriate for:
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- An Oklahoma appraiser reconciles the three approaches to value by:
- An Oklahoma appraiser performing a retrospective appraisal for a date in the past must:
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