Property Valuation
In Washington, a residential appraiser who is appraising a property in a neighborhood undergoing 'gentrification' must account for:
AOnly the historic average appreciation rate
BThe current market trend and recent comparable sales reflecting the changing market conditions✓ Correct
COnly properties that have not been renovated
DThe county assessor's projected values
Explanation
In a gentrifying market, an appraiser must use the most current and relevant comparable sales to capture the market's direction. Using only older sales from before the market shift would understate current values.
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