Property Valuation
What does 'plottage' refer to?
AA plot of land
BThe increased value created when smaller parcels are combined into one larger parcel✓ Correct
CA type of survey map
DThe legal description of a property
Explanation
Plottage is the increment of value that results from assemblage — combining smaller parcels into a larger, more valuable single parcel worth more than the sum of its parts.
Related California Property Valuation Questions
- What is the standard appraisal form used for a single-family residential property in a federally related mortgage transaction?
- Which federal law requires federally regulated lenders to use licensed or certified appraisers for most real estate transactions above a certain threshold?
- Which type of depreciation results from factors outside the property, such as proximity to a freeway or an industrial plant?
- Plottage value refers to the increased value resulting from:
- What is 'physical deterioration' in property appraisal?
- A seller has a home with market value of $750,000. The seller wants to net $700,000 after paying a 6% commission. Can the seller achieve this by listing at $750,000?
- In the income approach, what is the 'capitalization rate' (cap rate)?
- What is the cost approach to value?
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