Property Valuation
A Connecticut appraiser's final value opinion in a narrative report should be expressed as:
AA range of values
BA specific point value (a single dollar amount)✓ Correct
CAn average of all three approaches
DThe highest value indicated by any single approach
Explanation
USPAP and standard appraisal practice require the final value opinion to be expressed as a specific dollar amount (point value) rather than a range, providing a definitive conclusion for lenders and clients.
Related Connecticut Property Valuation Questions
- An appraiser values a Connecticut home at $520,000 for a purchase loan. The purchase price is $540,000. The lender will base the loan on:
- Functional obsolescence in real estate appraisal refers to:
- In the cost approach, 'land value' is determined separately by:
- An appraiser using the cost approach to value a property would:
- In the cost approach, 'reproduction cost' differs from 'replacement cost' in that reproduction cost is the cost to:
- What does 'market value' mean in a Connecticut appraisal context?
- When an appraiser makes a 'positive adjustment' to a comparable sale in the sales comparison approach, it means:
- Which is true about a 'competitive market analysis' (CMA) prepared by a Connecticut real estate licensee?
Practice More Connecticut Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Connecticut Quiz →