Property Valuation
Which appraisal principle states that the value of a property is affected by the values of surrounding properties?
APrinciple of conformity
BPrinciple of progression and regression✓ Correct
CPrinciple of contribution
DPrinciple of anticipation
Explanation
The principle of progression states that a lower-value property benefits from being located near higher-value properties. The principle of regression states the opposite — a higher-value property may suffer when surrounded by lower-value properties.
Related North Dakota Property Valuation Questions
- A North Dakota appraiser must disclose a material error discovered after submitting the appraisal report. This is required under:
- In North Dakota, what is the difference between 'list price' and 'sold price'?
- The sales comparison approach to value requires the appraiser to:
- The principle of substitution states that a buyer will pay no more for a property than the cost of:
- In North Dakota, an appraiser who is asked to appraise their own home for refinancing must:
- A North Dakota appraiser developing a 'restricted appraisal report' is providing:
- An appraisal is different from a CMA (Comparative Market Analysis) because:
- An appraiser's 'market value' definition assumes:
Practice More North Dakota Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free North Dakota Quiz →