Property Valuation
A Virginia appraiser in the Richmond market finds only two comparable sales in the past 12 months. They may also use:
AOnly those two sales
BSales from adjacent markets with similar characteristics, or expand the time range✓ Correct
COnly the cost approach
DThe seller's listing history
Explanation
When the local market has limited recent comparable sales, appraisers may expand the search area to adjacent but similar markets or use older sales with time adjustments, explaining the analysis in the report.
Related Virginia Property Valuation Questions
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