50. 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 subject property in size, style, and condition is crucial for accurate pricing. Option D presents a recently sold property that meets all these criteria, making it the most suitable choice.
A) a similar style house that sold three years ago and is located in the same subdivision
While this option presents a similar style house, the fact that it sold three years ago makes it less relevant due to market fluctuations over time. Comparable sales should ideally be recent to reflect current market conditions, diminishing the usefulness of this option.
B) a neighboring house of the same age and design, whose owner sold it to a nephew 6 months ago
Although this house is of the same age and design, the sale to a family member may not represent a typical market transaction. Such sales often occur at non-market prices, which can skew the perceived value and make this option 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
This option describes a property that is currently listed, which does not reflect an actual sale price. Active listings can be influenced by various factors, and without a completed sale, they do not provide a solid basis for comparison in determining market value.
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 choice is ideal as it provides a recently sold property that closely matches the subject property in key aspects. The recent sale ensures that the data is reflective of current market conditions, making it a strong basis for comparison.
Conclusion
The correct answer, option D, is the most appropriate choice as it meets all the criteria for a valid comparable sale: it is similar in size, style, and condition, and it was sold recently. All other options fail to provide the necessary relevance or accuracy needed for an effective comparable sale, either due to outdated information, non-typical sales, or being merely listed rather than sold.