What is the implication of the subject property having a pool when adjusting the price of a comparable without a pool?

• A. The pool makes the subject superior, requiring an upward adjustment to the comparable
• B. The pool makes the subject inferior, requiring a downward adjustment to the comparable
• C. The pool has no impact on the adjustment
• D. The pool affects only the cost approach

Answer: (A)

In the Sales Comparison Approach, you adjust the sale price of the comparable to reflect differences between it and the subject. If the subject has a pool and the comparable does not, the subject is superior for that feature. To render the comparable truly comparable, you increase the comparable’s price by the value of the pool. So the adjustment is upward to the price of the comparable.

The pool’s value is not irrelevant, nor does it indicate a cost-approach-only effect. A downward adjustment would misprice the missing feature, and saying there’s no impact would ignore the difference that the market assigns to having a pool.