Property Valuation
An appraisal of a NJ waterfront property in Monmouth County would most heavily weight which approach?
ACost approach
BSales comparison approach✓ Correct
CIncome approach
DLiquidation approach
Explanation
For single-family residential waterfront properties in active markets like Monmouth County, the sales comparison approach is most applicable and reliable, as there are usually sufficient comparable sales of similar waterfront homes.
Related New Jersey Property Valuation Questions
- In NJ, which entity licenses and regulates real estate appraisers?
- The sales comparison approach to value is MOST appropriate for valuing:
- Functional obsolescence as a form of depreciation refers to:
- Assemblage in real estate refers to:
- In New Jersey's competitive suburban markets near NYC, the primary driver of residential property values is often:
- A direct capitalization approach to value uses which formula?
- Depreciation in the cost approach to value includes which THREE categories?
- Gross Rent Multiplier (GRM) is calculated as:
Practice More New Jersey Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free New Jersey Quiz →