Property Valuation
What is the 'principle of conformity' in real estate and how does it apply in Nevada?
AThe requirement that all homes in a development be identical
BThe principle that property values are maximized when the use and style of a property conform to that of the surrounding neighborhood — a significantly different property may suffer a value penalty✓ Correct
CA Nevada zoning requirement mandating uniform building styles
DThe principle that appraised value must conform to assessed value
Explanation
The principle of conformity holds that value is maximized when properties are similar in use, style, and quality. A single-family home in an established neighborhood performs best when it conforms to neighborhood standards.
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