Key Takeaways
- In appreciating markets, apply positive monthly time adjustments using index data or paired sales.
- In declining markets, apply negative time adjustments and consider separate distressed value reporting.
- Gentrifying areas require blending local comps with destination-area comps at discounted weights.
- New construction can lift or suppress existing property values depending on the price ratio.
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Test Your Knowledge
1.In Comp Analysis in Volatile and Transitional Markets, what determines the reliability of a comparable sale?
2.What is the maximum recommended net adjustment for a single comparable sale?
3.How should the final value be determined from multiple adjusted comparable sales?