PSI Oklahoma Real Estate Practice Test 2025 – The Complete Guide to Exam Success!

When appraising a property, adjustments are primarily made based on the characteristics of comparable properties. This means that appraisers analyze features such as location, size, number of bedrooms and bathrooms, and specific amenities to determine how much value these characteristics add or subtract from the appraised property.

By examining comparable properties, also known as "comps," appraisers can assess how similar homes have sold in the market and make informed adjustments to the subject property’s value. For instance, if a comparable property has a swimming pool and is valued higher, the appraiser may adjust the value of the subject property downwards if it lacks that feature.

While current market trends, recent repairs, and the age of properties can be relevant considerations in a broader context, they do not directly influence the adjustment process as much as the direct comparison of characteristics. Appraisers focus on these specifics to ensure a more accurate and justifiable valuation that reflects the market conditions and property attributes.