Property Valuation
A Minnesota appraiser is completing a market conditions analysis for their appraisal report. This analysis examines:
AThe appraiser's personal market opinion
BSupply and demand factors affecting property values in the subject's market area✓ Correct
COnly the national housing market trends
DThe subject property's specific transaction history
Explanation
Market conditions analysis examines supply and demand factors: inventory levels, days on market, list-to-sale price ratios, absorption rates, price trends, and other metrics that affect property values in the subject's market area. This analysis is required in appraisals under USPAP and guides the selection and adjustment of comparable sales.
Related Minnesota Property Valuation Questions
- In Minnesota, the income approach is most appropriate for valuing which type of property?
- The principle of conformity in Minnesota appraisal holds that:
- When appraising an income property in Minnesota, Effective Gross Income (EGI) is calculated as:
- Regression and progression are appraisal principles related to:
- In Minnesota's Twin Cities market, a residential appraiser should search for comparable sales within what general parameters?
- In Minnesota, the Uniform Standards of Professional Appraisal Practice (USPAP) requires appraisers to:
- A Minnesota real estate agent is asked to provide a Comparative Market Analysis (CMA) to help a seller price their home. A CMA differs from an appraisal in that:
- External obsolescence in real estate refers to depreciation caused by:
Practice More Minnesota Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Minnesota Quiz →