Property Valuation
A Texas single-family home appraiser uses the following sales. After adjustments, which comparable would they give the most weight to?
AA sale from 2 years ago requiring $50,000 in net adjustments
BA sale from 1 month ago requiring $5,000 in net adjustments✓ Correct
CA sale from 6 months ago requiring $45,000 in adjustments but identical in size
DA sale from 3 months ago requiring $30,000 in net adjustments
Explanation
Appraisers give the most weight to comparables that are most recent, require the fewest adjustments, and are most similar to the subject. A recent sale requiring minimal adjustment is the most reliable indicator of value.
Related Texas Property Valuation Questions
- In Texas, who is authorized to prepare a formal appraisal for mortgage lending purposes?
- In the income approach, stabilized NOI means:
- The principle of substitution states that:
- Functional obsolescence in a property refers to:
- A Texas property's effective age is 10 years but its actual (chronological) age is 20 years. This difference indicates:
- Accrued depreciation in the cost approach refers to:
- Texas mixed-use properties present appraisal challenges because:
- When a Texas appraiser makes a positive adjustment to a comparable sale, it means:
Practice More Texas Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Texas Quiz →