Property Valuation
The principle of conformity in real estate appraisal holds that:
AProperties must comply with zoning
BMaximum value is achieved when properties in an area are reasonably similar in use, size, and style✓ Correct
CAll properties must be appraised the same way
DComparable properties must conform to appraisal guidelines
Explanation
The principle of conformity states that property values tend to be maximized when land uses are compatible and properties in an area are similar in use, style, and quality. Excessive deviation from area norms can reduce value.
Related Arizona Property Valuation Questions
- In Arizona, the URAR form used for residential appraisals requires the appraiser to report the 'neighborhood' based on:
- When appraising a duplex, the most appropriate approach would typically be:
- When appraising special-purpose properties in Arizona (gas stations, car washes), the appraiser typically:
- In Arizona, when a buyer pays more than the appraised value for a property, the difference is called:
- Arizona uses a 'limited cash value' assessment system where residential property is assessed at a percentage of its full cash value. The standard assessment ratio for residential property in Arizona is:
- Which of the following would be considered 'external obsolescence' for an Arizona property?
- A 'reconciliation' in a final appraisal report involves the appraiser:
- The principle of anticipation in real estate appraisal holds that:
Practice More Arizona Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Arizona Quiz →