Property Valuation
In New Jersey's competitive suburban markets near NYC, the primary driver of residential property values is often:
AAgricultural yield
BSchool district quality and commute access to New York City✓ Correct
CIndustrial zoning proximity
DState income tax rates alone
Explanation
NJ's NYC-metro suburbs are heavily influenced by school district rankings and commute convenience. Towns in Bergen, Essex, Monmouth, and Morris counties command premiums tied to school quality and transit access.
Related New Jersey Property Valuation Questions
- When appraising a NJ property using the cost approach, the appraiser estimates replacement cost new and then deducts:
- In the sales comparison approach, adjustments are made to the comparable sales to:
- Regression in real estate appraisal means:
- When comparing sales in the sales comparison approach, a positive adjustment is made to the comparable when:
- A property has a net operating income of $48,000 and is valued at $600,000. What is the cap rate?
- An appraiser for a NJ income property uses a 5% vacancy factor. If the gross potential rent is $180,000, what is the vacancy allowance?
- An appraiser in New Jersey notes that a property is being sold under extreme financial distress (bank sale). This would affect which appraisal concept?
- A NJ appraiser reviewing a property in a flood zone must consider which of the following as a form of external obsolescence?
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 →