Property Valuation
What is 'assemblage' in real estate development in Delaware?
AThe construction of a building on an assembled lot
BThe combining of two or more adjacent parcels into one larger parcel✓ Correct
CThe process of appraising multiple properties simultaneously
DThe grouping of similar comparables in an appraisal
Explanation
Assemblage is the process of combining two or more adjacent parcels under single ownership, often creating a larger, more valuable parcel with greater development potential (resulting in plottage value).
Related Delaware Property Valuation Questions
- The cost approach to value is most useful for which type of property?
- A Delaware appraisal determines the value of a residential property at $350,000. The bank's loan officer believes the value should be $390,000. Who has the authority to change the appraised value?
- The income capitalization approach to value is most appropriate for:
- A Delaware home has an outdated, closed floor plan in a market where open floor plans are preferred. This is an example of:
- What is 'reconciliation' in the appraisal process?
- Capitalization rate (cap rate) is calculated as:
- Using the income approach, if a property has a NOI of $45,000 and the cap rate is 7.5%, what is the estimated value?
- What is 'floor area ratio' (FAR) and how does it relate to Delaware commercial property value?
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