How should the proximity of a comparable property be indicated in the sales comparison grid?

Indicating the proximity of a comparable property in a sales comparison grid is best accomplished by specifying the distance in miles and direction. This approach provides a clear and measurable way to communicate how close a comparable property is to the subject property, which is crucial in the appraisal process. Distance offers a tangible metric that can be easily understood and compared, helping convey the relevance of the comparable property being appraised.

In addition to miles, including directional information also adds context, as properties may have different market influences based on their location relative to the subject property. For example, a property located one mile north of the subject may have different market dynamics than one located one mile south, especially if these directions correspond to distinct neighborhoods or zones.

While other options may convey proximity to an extent, they do not provide the same level of clarity or precision. Neighborhood descriptions can be subjective and vary widely in interpretation. Estimated travel time may not accurately reflect actual distance as it can be affected by traffic or road conditions. GPS coordinates, while precise, do not offer an intuitive understanding of distance in relation to neighborhood dynamics or market factors. Therefore, using distance in miles and direction is the most effective and informative method for indicating proximity in the sales comparison grid.