To determine the market value of a property with fewer amenities compared to a comparable property, what should you do?

Study for the CAS 45-Hour Real Estate Principles Course Test. Utilize flashcards and multiple choice questions to prepare thoroughly. Each question is paired with hints and explanations. Get ready to excel in your exam!

When determining the market value of a property with fewer amenities compared to a comparable property, the appropriate action is to adjust the comparable's price down. This is because the value of a property is often influenced by the amenities and features it offers. If your property has fewer amenities, it may not be as valuable as the comparable property, which typically includes those extra features.

By adjusting the comparable's price downward, you are recognizing the differences in property characteristics, which can include things like additional bathrooms, more square footage, updated appliances, or outdoor living spaces. This adjustment allows for a more accurate assessment of your property's market value in relation to the comparable property.

Ignoring the differences would lead to an overestimation of your property's value. Using a different comparable might not capture the specific traits of your property that make it less valuable than the initial comparable. Simply increasing the price of the comparable does not take into account the missing amenities and wouldn't reflect true market conditions. Therefore, adjusting the comparable's price down is the method that most effectively accounts for the differences in property features.

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