Property Valuation
What is a 'price per square foot' metric used for in Delaware real estate?
ACalculating the cost of new construction only
BA unit of comparison used to analyze and compare property values based on size✓ Correct
CDetermining the appropriate commission rate
DSetting the property tax assessment basis
Explanation
Price per square foot is a common unit of comparison in real estate, allowing properties of different sizes to be compared on a normalized basis. It helps buyers, sellers, and appraisers understand relative value.
Related Delaware Property Valuation Questions
- What is 'land value' typically based on in Delaware appraisal practice?
- The income capitalization approach to value is most appropriate for:
- In Delaware appraisal practice, what is 'highest and best use'?
- An arm's-length transaction means:
- What is 'effective gross income' in property valuation?
- A Delaware property is assessed at $180,000 with an assessment ratio of 60% of market value. What is the estimated market value?
- In the cost approach, accrued depreciation includes:
- What is a 'comparative market analysis' (CMA) in Delaware real estate?
Practice More Delaware Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Delaware Quiz →