Property Valuation
In West Virginia appraisal, 'paired sales analysis' is used to:
AFind two properties sold to the same buyer
BIsolate the value contribution of a single property feature by comparing two sales that are identical except for that feature✓ Correct
CPair an appraiser with a trainee for supervision
DCompare sales in adjacent counties
Explanation
Paired sales analysis (matched pair analysis) isolates the value of a single feature by identifying two comparable sales that are identical except for the presence or absence of that feature, allowing the appraiser to extract the feature's market contribution.
Related West Virginia Property Valuation Questions
- In the sales comparison approach, adjustments are made to the comparable properties because:
- The principle of conformity holds that property value is maximized when:
- An appraiser in Morgantown, WV notes that home prices near West Virginia University have been rising rapidly due to strong rental demand from students. This is an example of which value principle?
- A West Virginia property generates $36,000 in annual net operating income (NOI). If the market cap rate is 8%, what is the property's estimated value?
- The principle of substitution, which underlies all three approaches to value, states that:
- In a West Virginia comparative market analysis (CMA), a real estate agent adjusts comparable sales to account for differences with the subject property. If a comparable sold for $165,000 but lacks a deck valued at $8,000 that the subject has, the adjusted comparable value is:
- In a West Virginia appraisal, the principle of contribution states that:
- In West Virginia, the gross rent multiplier (GRM) is calculated as:
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