Final answer:
The correct answer is A.) Revision, which in the context of real estate refers to adjusting property values based on specific factors like location. Appraisers use a comparative market analysis to make these adjustments by comparing similar properties in different locations.
Step-by-step explanation:
When conducting an analysis of residential properties to determine the appropriate dollar adjustment for the location of properties of similar value, the correct answer is A.) Revision. None of the other options (B.) Conversion, (C.) Exchange, D.) Discounting directly relate to the contextual process of adjusting property values based on location. Revision in real estate valuation means reviewing and adjusting the value based on specific factors such as location.
To make a dollar adjustment for location, real estate appraisers typically perform a comparative market analysis (CMA). This involves finding comparable sales (or "comps") in the preferred area and ensuring that properties are similar in terms of size, condition, and features. If a comparable property is in a more desirable location, an appraiser will adjust the value of the property under consideration upward; conversely, if it's in a less desirable location, the adjustment would be downward.