Property Valuation
In New Mexico, the term 'assemblage' in real estate refers to:
AThe combination of multiple items of personal property
BThe process of combining two or more parcels under one ownership to create greater value (plottage)✓ Correct
CThe gathering of comparable sales data
DThe assembly of a listing presentation
Explanation
Assemblage is combining adjacent parcels under one ownership. The resulting larger parcel often has more value than the sum of the individual parcels—this increase is called plottage value.
Related New Mexico Property Valuation Questions
- An appraiser uses a 'comparable sale' to adjust for a feature the subject property has but the comparable does not. The appraiser would:
- In New Mexico, when comparable sales show significant variation in selling prices, an appraiser should:
- External obsolescence that reduces a New Mexico property's value would be exemplified by:
- In New Mexico, an appraiser using the income approach must estimate 'vacancy and credit loss' because:
- An appraiser is estimating the value of a single-family home. Which approach to value would they most likely use as the primary method?
- In New Mexico, which type of appraisal approach would be most applicable for a special purpose property like a church or school?
- In New Mexico, the term 'effective age' in appraisal refers to:
- In New Mexico, a 'drive-by appraisal' (exterior-only inspection) may be acceptable for:
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