Property Valuation
In Alaska, the appraisal concept of 'market exposure time' is relevant because it:
ADetermines how long the appraisal is valid
BReflects the typical time a property like the subject would take to sell in the current market before the effective date✓ Correct
CEstablishes the listing period required by the MLS
DIs used to calculate physical depreciation
Explanation
Market exposure time is the estimated time the subject property would have been on the market (at the appraised value) prior to the effective date if it had been offered for sale. It is distinct from marketing time (looking forward). USPAP requires appraisers to consider and often disclose reasonable exposure time.
Related Alaska Property Valuation Questions
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