Property Valuation
When a Vermont appraiser uses the 'paired sales analysis' to measure the value impact of a specific feature, they:
AAverage the sales prices of all properties in the area
BCompare two otherwise identical sales where one has the feature and one does not, isolating the value impact of that feature✓ Correct
CPair a Vermont sale with a comparable sale in another state
DUse computer models to predict future sales prices
Explanation
Paired sales analysis involves finding two comparable Vermont sales that are identical except for one difference (e.g.
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Key Terms to Know
Comparable Sales (Comps)
Recently sold properties similar in size, condition, and location used by appraisers and agents to estimate a property's market value.
AppraisalA professional estimate of a property's market value prepared by a licensed or certified appraiser.
Gross Rent Multiplier (GRM)A quick valuation metric for income properties calculated by dividing the property price by gross annual rental income.
Loan-to-Value Ratio (LTV)The ratio of a mortgage loan amount to the appraised value or purchase price of a property, expressed as a percentage.
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