Property Valuation (alternative)
In Maryland, an appraiser's adjustment for location differences between properties recognizes that:
AAll Maryland properties in the same county have identical location value
BLocation factors (school districts, access, view, neighborhood) significantly affect market value✓ Correct
CLocation can only adjust value by a maximum of 5%
DLocation adjustments are prohibited under USPAP
Explanation
Location is one of the most significant value factors in real estate. Appraisers make location adjustments to reflect differences in school districts, access, neighborhood quality, views, and other location-specific factors.
Related Maryland Property Valuation (alternative) Questions
- An appraiser in Maryland who finds that a comparable sale occurred between related parties (family members) should:
- In Maryland, an appraiser's estimate of value is called a(n):
- In Maryland, a broker price opinion (BPO) or comparative market analysis (CMA):
- External (economic) obsolescence in a Maryland property appraisal is:
- An adjustment for a superior feature in a comparable sale when using the sales comparison approach means the appraiser will:
- When an appraiser uses the cost approach for a newly constructed Maryland home, the land value is:
- An appraiser in Maryland who is asked to use a specific comparable by the lender should:
- In Maryland, which approach to value is NOT typically used for vacant land?
Practice More Maryland Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Maryland Quiz →