Property Valuation
Which factor would MOST likely increase farmland values in the Red River Valley of North Dakota?
AIncreased flooding frequency
BHigher commodity prices for wheat and soybeans✓ Correct
CCorporate farming restrictions
DDeclining rural population
Explanation
Rising commodity prices directly increase the income potential and productivity value of farmland. Higher prices for crops like wheat and soybeans grown in the Red River Valley increase the capitalized income value of agricultural land.
Related North Dakota Property Valuation Questions
- An appraiser in Fargo, North Dakota notes that the city's population growth is driving demand for housing. This is an example of which value influence?
- External (economic) obsolescence is caused by:
- Which North Dakota principle states that value is influenced by the returns expected from surrounding properties?
- A North Dakota property with significant deferred maintenance would be described as having:
- A North Dakota appraiser observes that a neighborhood has 'declining economic vitality' characterized by high vacancy rates and falling property values. This describes a neighborhood in:
- In North Dakota, appraisers must comply with the Uniform Standards of Professional Appraisal Practice (USPAP) because:
- A North Dakota appraiser performing a 'restricted appraisal report' provides:
- 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 →