Property Valuation
A South Dakota property's market value is estimated at $250,000 using the sales comparison approach and $280,000 using the cost approach. The appraiser reconciles the value at $255,000. This process is called:
AAveraging
BReconciliation (correlation)✓ Correct
CBlending
DWeighting by formula
Explanation
Reconciliation (or correlation) is the appraiser's process of analyzing and weighting the indications from each approach to arrive at a final value estimate, not a simple average.
Related South Dakota Property Valuation Questions
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