Property Valuation
In Hawaii, an appraiser determines that comparables need time adjustments because the market has been appreciating at 5% annually. A sale from 12 months ago would be adjusted by:
AA. -5%
BB. +5%✓ Correct
CC. No adjustment needed
DD. +2.5%
Explanation
If a comparable sold 12 months ago and the market has since appreciated 5%, the appraiser adds +5% to the comparable's price to reflect current market conditions.
Related Hawaii Property Valuation Questions
- In Hawaii, what is a 'desk review' appraisal?
- In the cost approach to value, an appraiser estimates the value of a property by calculating:
- In Hawaii, what is the difference between 'market value' and 'market price'?
- In Hawaii, an appraiser uses a 5% cap rate for a residential rental property and a 7% cap rate for a commercial property. This reflects that:
- In Hawaii, an appraiser must be licensed or certified to prepare an appraisal for use in a:
- When appraising an income-producing property in Hawaii, an appraiser would most likely use the:
- A Hawaii rental property has a net operating income of $60,000. If the cap rate is 5%, what is the indicated value?
- What does 'progression' mean in Hawaii real estate appraisal?
Practice More Hawaii Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Hawaii Quiz →