Property Valuation
The Uniform Standards of Professional Appraisal Practice (USPAP) are developed and maintained by:
AThe California Bureau of Real Estate Appraisers (BREA)
BThe Appraisal Foundation, as authorized by Congress✓ Correct
CThe Federal Reserve Board
DFannie Mae and Freddie Mac jointly
Explanation
USPAP is developed by The Appraisal Foundation, authorized by Congress as the source of appraisal standards and appraiser qualifications. USPAP establishes the ethical and performance standards all licensed appraisers must follow.
Related California Property Valuation Questions
- What does 'plottage' refer to?
- External obsolescence (economic obsolescence) is caused by:
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- An appraiser determines a property has a capitalization rate of 8% and a NOI of $80,000. What is the estimated value?
- The principle of substitution states that:
- When using the age-life method to estimate accrued depreciation, the depreciation percentage is calculated by dividing effective age by:
- An appraiser determines that the highest and best use of a parcel is for commercial development, not its current residential use. How does this affect the appraisal?
- Which type of depreciation results from factors outside the property, such as proximity to a freeway or an industrial plant?
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