Property Valuation (alternative)
The principle of progression in Maryland real estate means:
AProperty values always increase over time (alternative)
BA lower-valued property benefits from proximity to higher-valued properties✓ Correct
CAn upper-income property's value is depressed by lower-value neighbors
DProperties appreciate at a fixed annual rate
Explanation
The principle of progression holds that a property of lesser value benefits from and increases in value when surrounded by higher-value properties.
Related Maryland Property Valuation (alternative) Questions
- In Maryland, an appraiser's estimate of value is called a(n):
- A Maryland appraiser who is asked to appraise a property in which the appraiser has a financial interest must:
- Functional obsolescence in a Maryland home appraisal refers to:
- An appraiser in Maryland who is asked to use a specific comparable by the lender should:
- In Maryland, the income capitalization approach values property by:
- The principle of substitution in Maryland appraisal theory states that:
- A Maryland appraiser who completes a 'desktop' appraisal uses:
- When comparing sales in the same Maryland neighborhood, an appraiser should give the most weight to comparables that are:
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