Property Valuation
A Wisconsin appraiser who finds that the comparable sales indicate a lower value than the cost approach should generally:
AIgnore the sales comparison approach for residential property
BGive primary weight to the sales comparison approach for residential properties✓ Correct
CUse the cost approach as it is more objective
DAverage all available approaches
Explanation
For residential properties, the sales comparison approach most closely reflects buyer behavior and market reality; even if cost approach indicates a higher value, the market will typically not support a price above comparable sales.
Related Wisconsin Property Valuation Questions
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