An appraiser adjusts the value of a "comparable property" (a property similar to the one being valued) in the direction of the "subject property" (the property being valued). If the subject property has an added feature, the value of that feature in the marketplace will be added to the comparable property, making the two more alike.
These are questions that the above text answers:
1. What is a comparable property in real estate appraisal?
2. What is the subject property in real estate appraisal?
3. How does an appraiser adjust the value of a comparable property?
4. What is the purpose of adjusting the value of a comparable property?
5. What is the marketplace value of an added feature in real estate?
7. What is the role of an appraiser in real estate valuation?
8. What is the significance of adjusting the value of a comparable property to match the subject property?
9. How does an appraiser determine the value of an added feature in the marketplace?
10. Why is it important for a comparable property to be adjusted to match the subject property in real estate appraisal?