Property Valuation
A South Dakota appraiser notes that comparable sales occurred 8 months ago. The appraiser should:
AReject those sales as too old to be usable
BMake a market conditions (time) adjustment to reflect changes since those sales occurred✓ Correct
CUse the sales as-is since 8 months is within one year
DUse only current listings as comparable data
Explanation
Market conditions adjustments (sometimes called 'time adjustments') are made to comparable sales to reflect appreciation or depreciation between the comparable's sale date and the effective date of the appraisal.
Related South Dakota Property Valuation Questions
- Depreciation in real estate appraisal refers to:
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