Property Valuation
A Texas appraiser is completing an appraisal and uses three comparable sales. After adjustments, the comparables indicate values of $310,000, $315,000, and $308,000. The appraiser reconciles these to $312,000. This process is called:
ACorrelation
BReconciliation✓ Correct
CAveraging
DRegression analysis
Explanation
Reconciliation is the process by which an appraiser weighs and analyzes the indications of value from different approaches or comparables to arrive at a final value estimate. It is not a simple average but a judgment-based process.
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