Property Valuation
Oklahoma ranch and farm real estate sales are tracked by university extension services and farm credit organizations. This data is important for appraisers because:
AUniversity data is not reliable for appraisal purposes
BAgricultural land sales are not always reported through standard MLS services; specialized databases from FSA, NASS, and lenders provide the most relevant comparable data for farmland appraisals✓ Correct
COnly FSA-financed sales are relevant
DFarm sales always match residential sales patterns
Explanation
Agricultural land sales often occur through different channels than residential — not always through REALTOR-associated MLSs. Appraisers use USDA NASS surveys, Farm Credit data, county deed records, and extension service reports to find relevant farm and ranch comparable sales in Oklahoma.
Related Oklahoma Property Valuation Questions
- Economic (external) obsolescence in an Oklahoma property is caused by:
- In Oklahoma, the sales comparison approach requires an appraiser to identify recent, comparable sales. Which of the following would be the BEST comparable for a 3-bedroom, 2-bath ranch home in Edmond?
- Oklahoma industrial properties have unique appraisal considerations because:
- Regression is an appraisal principle that states:
- The Uniform Appraisal Dataset (UAD) standards used on Fannie Mae/Freddie Mac forms affect Oklahoma residential appraisals by:
- When an Oklahoma appraiser performs a drive-by appraisal (exterior-only inspection), the appraiser's limitations include:
- In Oklahoma oil country, mineral rights can significantly affect property value. A property with an active oil and gas lease producing royalty income would be valued:
- An 'as-if-stabilized' value in an Oklahoma commercial appraisal represents:
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