Property Valuation
When appraising a waterfront property in Narragansett Bay, the appraiser would likely give the most weight to:
AThe cost approach
BThe income approach
CThe sales comparison approach using comparable waterfront sales✓ Correct
DThe book value of the improvements
Explanation
For residential waterfront properties, the sales comparison approach is typically given the most weight because actual buyer behavior and market transactions of comparable waterfront properties best reflect what informed buyers are willing to pay for the premium location.
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