Property Valuation
In Alaska, when two appraisers value the same property and reach different conclusions, the most likely explanation is:
AOne appraiser is corrupt and should be reported
BAppraisal is not an exact science — different appraisers may make different but supportable judgments in their analysis✓ Correct
COnly one appraisal can be correct
DThe higher value is always the correct one
Explanation
Appraisal involves professional judgment in selecting and adjusting comparables, selecting comparable transactions, and reconciling value indicators. Different qualified appraisers may reasonably reach different (but equally defensible) conclusions about the same property, particularly in thin or volatile markets.
Related Alaska Property Valuation Questions
- In Alaska, the 'allocation method' of land valuation estimates land value by:
- Economic life of a building refers to:
- An Alaska appraiser calculates a capitalization rate of 8% for an income property with an NOI of $40,000. Using direct capitalization, the indicated property value is:
- In Alaska, a 'drive-by appraisal' (exterior-only) is distinguished from a full appraisal because it:
- Which of the following BEST describes 'effective age' in appraisal?
- A 'before and after' appraisal method is most commonly used in:
- Functional obsolescence in real estate appraisal refers to:
- When valuing an income property, the overall capitalization rate (OAR) is derived from:
Practice More Alaska Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Alaska Quiz →