Property Valuation (alternative)
Depreciation in a Maryland appraisal (cost approach) includes all of the following EXCEPT:
APhysical deterioration (alternative)
BFunctional obsolescence (alternative)
CEconomic obsolescence
DMarket appreciation✓ Correct
Explanation
Depreciation in appraisal is a loss in value from physical deterioration, functional obsolescence, or economic (external) obsolescence. Market appreciation increases value; it is not depreciation.
Related Maryland Property Valuation (alternative) Questions
- A Maryland appraiser preparing a residential appraisal for a federally regulated transaction must complete a report on a form approved by:
- When using the income approach for a Maryland apartment building, the appraiser would collect all of the following data EXCEPT:
- In Maryland, the state's required minimum education for becoming a licensed residential appraiser includes (as established by federal requirements):
- An adjustment for a superior feature in a comparable sale when using the sales comparison approach means the appraiser will:
- A Maryland appraiser includes a limiting condition in their report stating that the appraisal assumes no environmental hazards exist. This is called a(n):
- A Maryland appraiser finds that a nearby commercial facility has reduced a residential property's value by $20,000. This is an example of:
- When appraising Maryland waterfront property, the premium over a non-waterfront comparable is:
- In Maryland, the term 'as-improved' value in an appraisal means:
Practice More Maryland Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Maryland Quiz →