Property Valuation
A Maine appraiser notes that the neighborhood contains properties with a mix of residential and light commercial uses. This is an example of which neighborhood characteristic?
AConformity
BNon-conformity or transition✓ Correct
CHighest and best use consistency
DStable market conditions
Explanation
A transitional neighborhood with mixed uses is characterized by non-conformity. This can affect property values and requires the appraiser to analyze the impact of the mixed-use environment on value.
Related Maine Property Valuation Questions
- A Maine appraisal uses the income capitalization approach. A property generates $36,000 net operating income annually. Using a 6% cap rate, the indicated value is:
- Maine's 'Tree Growth' land can be challenging to appraise because its value is based on:
- A Maine appraiser estimates a home's value at $310,000 using the cost approach, $325,000 using the sales comparison approach, and $290,000 using the income approach. For a primary residence, the appraiser would most likely weight which approach most heavily?
- Which type of depreciation is NOT recoverable through repairs or renovation of the property?
- A Maine appraiser calculates depreciation on a 20-year-old building with an economic life of 50 years. Using straight-line depreciation, the depreciation percentage is:
- A Maine property has a replacement cost new of $400,000 and total accrued depreciation of $60,000. The land value is $75,000. What is the value indication using the cost approach?
- A Maine vacant waterfront lot sells for $120,000. A similar lot without waterfront access sells for $45,000. The 'water premium' indicated by these sales is approximately:
- External obsolescence affecting a Maine coastal property due to a nearby highway construction is best classified as:
Practice More Maine Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Maine Quiz →