Property Valuation
The 'income approach' to value is MOST appropriate for:
AA. Single-family owner-occupied homes
BB. Income-producing properties such as apartment buildings and commercial properties✓ Correct
CC. Vacant land in rural areas
DD. Special-purpose properties like churches
Explanation
The income approach is most applicable to income-producing properties. It converts the property's income stream into a value indication through capitalization. It is less relevant for owner-occupied residential properties.
Related Georgia Property Valuation Questions
- Assemblage in real estate refers to the process of:
- An appraisal done for a refinance is often based on the assumption that:
- Highest and best use in real estate appraisal means the use that is:
- In the sales comparison approach, a 'time adjustment' is made when:
- The overall capitalization rate (OAR) for an income property reflects:
- A Uniform Standards of Professional Appraisal Practice (USPAP) is important because it:
- USPAP requires appraisers to retain their workfiles for a minimum of:
- A capitalization rate for an income property is influenced by all of the following EXCEPT:
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