Property Valuation
An appraiser in Allegheny County (Pittsburgh) must obtain market data for the subject neighborhood's:
ASingle national average cap rate
BLocal market conditions — absorption rates, days on market, price trends, and competing properties✓ Correct
CPennsylvania statewide average home value
DPHFA-published market value tables
Explanation
Appraisers must analyze local market conditions specific to the subject's neighborhood and competing neighborhoods. Absorption rates (how quickly homes sell), days on market, list-to-sale price ratios, and price trend data are analyzed to understand current market conditions affecting value.
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