Property Valuation
The principle of 'progression' in real estate valuation means:
AA less expensive home benefits from being located among higher-valued homes✓ Correct
BAll homes in a neighborhood increase in value at the same rate
CNewer homes are always worth more than older ones
DImprovements to a home always increase value proportionally
Explanation
The principle of progression states that the value of a lesser property is positively influenced by neighboring properties of higher value — a modest home in an upscale neighborhood tends to be worth more than it would be elsewhere.
Related Louisiana Property Valuation Questions
- The 'reconciliation' step in a Louisiana appraisal requires the appraiser to:
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