Property Valuation
In a 'seller's market,' home values tend to:
AA. Decline due to seller overpricing
BB. Increase because demand exceeds supply✓ Correct
CC. Stay flat as the market self-corrects
DD. Decline because buyers have more choices
Explanation
In a seller's market, demand exceeds supply, giving sellers more leverage. Properties tend to sell quickly and at or above asking price, driving values higher. Competition among buyers pushes prices up.
Related Georgia Property Valuation Questions
- When an appraiser determines the 'contributory value' of a feature (like a swimming pool), this represents:
- The principle of anticipation in real estate valuation holds that:
- The 'cost approach' gives the most reliable indication of value when:
- In the income approach, 'effective gross income' is calculated as:
- A property with a 'stigma' (such as a murder having occurred there) may experience what type of depreciation?
- The 'band of investment technique' in the income approach is used to:
- An appraiser's final 'reconciliation' step in the appraisal process involves:
- When appraising a property, which approach to value considers the land value separately from the improvements?
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