Which of the following is NOT a comparability criterion when utilizing direct capitalization?

When evaluating comparability criteria for direct capitalization in real estate valuation, it is essential to focus on factors that directly influence the income-producing potential and the valuation of properties. Remaining economic life, expense ratios, and land to improvement ratios are all critical aspects that impact a property's value and investment potential, making them relevant comparability criteria.

Remaining economic life assesses how long a property is expected to generate income, which is vital for estimating its future cash flows. Expense ratios help identify how much of the income is consumed by operating expenses, directly linked to the net operating income used in capitalizing value. Land to improvement ratios provide insights into the relationship between the land's value and the value of the improvements, helping to analyze how differences in land and improvement qualities might affect comparability.

Market trends, while important in an overall analysis, can be seen as more of a contextual factor rather than a direct criterion for comparability. Market trends encompass broader economic indicators and shifts in demand and supply that can influence property values but do not serve as a direct analysis parameter when determining the comparability of specific income-generating properties. Thus, it does not fit the definition of a criterion specifically used for evaluating comparability in the context of direct capitalization.