Property Valuation
An Alaska appraiser values a property 'as of' a specific date. This 'effective date' is significant because:
AIt determines the appraiser's fee
BMarket conditions and facts known as of that date determine the value conclusion✓ Correct
CIt establishes when the appraisal report expires
DIt determines which comparable sales may be used
Explanation
The effective date of an appraisal is the date as of which the value opinion applies. Market conditions, property condition, and all relevant facts are considered as of that date. A retrospective appraisal values property as of a past date; a prospective appraisal as of a future date.
Related Alaska Property Valuation Questions
- In Alaska, which of the following would NOT be considered a 'component' of the cost approach value estimate?
- The appraisal principle of 'progression' suggests that:
- Under the Uniform Standards of Professional Appraisal Practice (USPAP), an appraiser who knowingly provides a false appraisal has committed:
- In Alaska, the 'direct capitalization' method of valuation divides which two figures?
- The cost approach is MOST reliable for which type of property?
- An Alaska property has a replacement cost new of $350,000 and is 30 years old with a 70-year economic life. Annual straight-line depreciation is approximately:
- Which of the following types of depreciation is generally considered incurable?
- In Alaska, the cost approach to value is MOST useful for appraising:
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