Property Valuation
The 'principle of change' in NH real estate appraisal recognizes that:
AProperty values remain constant over time
BAll real estate markets and property values are in a constant state of flux✓ Correct
COnly property improvements change value
DTax assessments change property values
Explanation
The principle of change holds that real property and its environment are constantly evolving — physically, economically, and socially — making the effective date of an appraisal critical to its relevance.
Related New Hampshire Property Valuation Questions
- In the income approach to valuation, 'effective gross income' is calculated by:
- In the sales comparison approach, a time adjustment is made when:
- The principle of substitution states that a buyer will not pay more for a property than:
- Which of the following would be classified as functional obsolescence in a property appraisal?
- In an appraisal, reconciliation is the process of:
- A property's estimated value using the cost approach would be calculated as:
- An appraiser preparing a URAR (Uniform Residential Appraisal Report) for a Concord, NH single-family home is required to certify that they:
- When appraising a New Hampshire lakefront property, the 'water frontage' (linear footage of shoreline) is typically:
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