Property Valuation
A Maine waterfront home's value is primarily enhanced by 'locational value.' This is best described as value attributable to:
AThe cost of the building materials
BThe site's desirable location (waterfront, views, access)✓ Correct
CThe age of the improvements
DThe assessed value assigned by the municipality
Explanation
Locational value reflects the premium attached to a property's location — for Maine waterfront properties, the site's proximity to and frontage on the water is often the primary driver of value.
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