In the context of determining the value of a subject property by comparing it to a similar property, the process of adjusting the sales price of the comparable property to reflect the differences between the two properties is referred to as an adjustment.
- For example, if the comparable property has an additional bedroom compared to the subject property, an adjustment would be made to the sales price of the comparable property to reflect the value of that extra bedroom.
Reconciliation is the process of analyzing and combining different valuation methods or results to reach a final opinion of value for the subject property.
Regression analysis involves statistical techniques to understand the relationship between variables, but it is not specifically related to adjusting sales prices of comparable properties in real estate valuation.
Capitalization is a method used to estimate the value of an income-producing property by converting its expected income into value through capitalization rates, which is different from adjusting sales prices of comparable properties.
