23. An agent has been asked to provide a suitable comparable sale for a property being listed by his broker. Which of the following would be the most appropriate property for the agent to provide?
Answer: D
A house similar to the subject house in terms of size, style, and condition located in the same town that sold in the past 3 months
Providing a comparable sale that closely matches the size, style, and condition of the subject property is essential for an accurate valuation. A property that sold recently within the same town ensures that the data reflects current market conditions, making it the most appropriate choice.
A) a similar style house that sold three years ago and is located in the same subdivision
While this option discusses a similar style house, its sale date of three years ago renders it less relevant due to potential market changes. Additionally, the fact that it is in the same subdivision does not mitigate the importance of the time factor in real estate valuation.
B) a neighboring house of the same age and design, whose owner sold it to a nephew 6 months ago
This option presents a house of similar age and design, which is a positive aspect. However, the sale to a relative may not accurately reflect market value, as familial transactions often do not mirror standard market conditions, making it less reliable as a comparable sale.
C) the same style and size house three doors down the block that is presently listed and being actively shown
Although this option describes a property that is similar in style and size, the fact that it is currently listed and not sold means it does not provide a completed transaction to inform pricing. Active listings do not always reflect actual sale prices, which can limit their utility as comparables.
D) a house similar to the subject house in terms of size, style, and condition located in the same town that sold in the past 3 months
This option is the best choice because it describes a recently sold property that closely matches the subject house in essential aspects. The sale occurring within the last three months ensures that the information is relevant to current market conditions, providing a solid basis for comparison.
Conclusion
The correct choice is definitively option D because it offers a comparable sale that aligns in size, style, and condition, along with being recent in terms of market activity. Options A, B, and C fail to provide the necessary relevance or market accuracy, which is crucial for an effective property valuation. Thus, D stands out as the most appropriate and reliable comparable sale for the agent to present.