Property Valuation
The Oklahoma City and Tulsa real estate markets are often referred to as:
ATertiary markets with minimal investor interest
BMajor regional markets with significant commercial and residential investment activity✓ Correct
CRural markets comparable to agricultural areas
DDeclining markets due to oil price volatility
Explanation
Oklahoma City and Tulsa are the two major metropolitan markets in Oklahoma, attracting significant residential and commercial investment. Both are considered affordable major markets with diverse economic bases including energy, aerospace, healthcare, and technology.
Related Oklahoma Property Valuation Questions
- Capitalization rate (cap rate) is calculated as:
- The Uniform Appraisal Dataset (UAD) standards used on Fannie Mae/Freddie Mac forms affect Oklahoma residential appraisals by:
- In Oklahoma, the county assessor determines the assessed value of property for ad valorem tax purposes. Residential property is assessed at:
- Plottage (assemblage) value in Oklahoma refers to:
- When using the sales comparison approach, an appraiser finds a comparable that sold for $300,000. The comparable has a 2-car garage worth $10,000 but the subject property does not. The appraiser should:
- The 'highest and best use' of a property is defined as the reasonably probable use that is:
- The sales comparison approach to value is most appropriate for:
- Regression is an appraisal principle that states:
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