Property Valuation
The principle of 'progression' in real estate valuation states that:
AProperty values always increase over time
BThe value of a lower-priced property is enhanced by proximity to higher-priced properties✓ Correct
CNew construction increases the value of older homes
DMarket values progress through predictable cycles
Explanation
The principle of progression holds that the value of a lesser property is positively affected by being located among higher-value properties. The opposite (regression) holds that a higher-value property is negatively affected by lower-value surroundings.
Related Mississippi Property Valuation Questions
- A Mississippi appraisal includes an 'extraordinary assumption.' Under USPAP, an extraordinary assumption is a supposition that:
- A Mississippi appraiser applies the income approach to a residential fourplex. The appraiser would most likely use which method?
- The principle of 'conformity' in Mississippi real estate valuation holds that:
- External obsolescence (economic obsolescence) in appraisal refers to loss in value caused by:
- The income capitalization approach estimates property value by:
- Depreciation in the cost approach refers to:
- Which appraisal approach is most commonly used to value single-family residential properties in Mississippi's Jackson metro market?
- Assessed value in Mississippi is determined by:
Practice More Mississippi Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Mississippi Quiz →