Property Valuation
An appraiser values a property and uses three comparable sales. The adjusted values are $385,000, $392,000, and $378,000. The appraiser gives greatest weight to the comparable with the fewest adjustments. The comp with the fewest adjustments has an adjusted value of $392,000. What value does the appraiser most likely conclude?
A$385,000 (simple average)
B$392,000 (weighted toward most reliable comparable)✓ Correct
C$378,000 (most conservative)
D$383,000 (median)
Explanation
In reconciliation, appraisers give greatest weight to the comparable that required the fewest adjustments (most similar to the subject) because it is the most reliable indicator of value. The appraiser would most likely conclude a value near $392,000.
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