What is the first adjustment to consider in comparable sales for market value?

The primary consideration when adjusting comparable sales for market value is the time component. Time adjustments account for the temporal differences between the sale of the comparable property and the date of the valuation being conducted. Sale prices can vary over time due to market trends, economic conditions, and seasonal variations. It is essential to recognize any changes in market conditions that may affect property values between the time of the comparable sale and the appraisal date.

While personal property is indeed a factor to consider in some instances, it does not take precedence as the first adjustment. Adjustments related to financing, personal property, and quantitative differences often arise after establishing the appropriate time adjustment. The accurate assessment of time can significantly impact the overall analysis by aligning the sales data with current market conditions.