Property Valuation
An appraiser notes that a Bucks County neighborhood has been appreciating at 5% annually. This market trend information is reflected in the appraisal through:
AIgnoring time adjustments since the market will normalize
BTime adjustments applied to comparable sales to reflect market conditions as of the effective appraisal date✓ Correct
CA flat 5% addition to all comparable sale prices
DPREC's annual market value adjustment table
Explanation
When comparable sales occurred before the appraisal effective date in an appreciating market, time adjustments are applied to reflect market conditions as of the effective date. A 5% annual appreciation rate would require approximately +0.
Related Pennsylvania Property Valuation Questions
- A Pennsylvania appraiser must retain a copy of completed appraisal reports for at least:
- External obsolescence affecting a Pennsylvania property's value is best described as:
- A Pennsylvania appraiser's 'gross living area' (GLA) calculation for a residential property includes:
- What is 'economic obsolescence' and how might it affect a Pennsylvania property's value?
- A Pennsylvania appraiser evaluating a solar panel installation on a home should consider:
- A Pennsylvania appraiser uses a 'capitalized income loss' adjustment for functional obsolescence when:
- In Pennsylvania, an appraiser who determines a property is worth less than the contract price should:
- The 'plottage value' or 'assemblage' premium in Pennsylvania real estate occurs when:
Practice More Pennsylvania Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Pennsylvania Quiz →