Property Valuation
An appraiser uses the 'before and after' method when appraising property affected by:
AA general market decline
BA partial taking through eminent domain✓ Correct
CFunctional obsolescence from an outdated kitchen
DA change in neighborhood zoning
Explanation
The 'before and after' method compares the property's value before a partial taking (eminent domain) with its value after the taking to determine the total compensation owed, including both the value of the taken portion and any severance damages to the remainder.
Related California Property Valuation Questions
- What is the purpose of a Comparative Market Analysis (CMA) as used by real estate agents?
- What is the cost approach to value?
- What does 'plottage' refer to?
- A 'before and after' appraisal method is most commonly used in which situation?
- A Competitive Market Analysis (CMA) prepared by a real estate licensee differs from a formal appraisal in that:
- The income approach to value is most appropriate for which type of property?
- In the income approach, what is the 'capitalization rate' (cap rate)?
- The concept of 'regression' in real estate appraisal means:
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