Which of the following terms describes properties that are similar to a subject property in an appraisal report?

The term that describes properties that are similar to a subject property in an appraisal report is "comparables." Comparables, often referred to as “comps,” are properties that have similar characteristics to the subject property being appraised, such as location, size, age, and condition. Appraisers use comparables to determine the market value of the subject property by analyzing the sale prices of these similar properties.

Understanding the concept of comparables is essential in real estate valuation because it provides a basis for estimating how much a property is worth in the current market. Typically, the closer the comparable properties are in terms of features and location to the subject property, the more accurate the appraisal results will be.

The other terms listed, while they might have some relevance in specific contexts, do not carry the same established meaning in the appraisal process focused on property valuation. Predecessors typically refer to previous owners or stages in the ownership of a property, analogous properties may suggest similar types but are not commonly used terms in appraisal reports, and standard properties do not specifically denote properties used for comparison in appraisals.