Property Valuation
Tennessee's rapidly growing Chattanooga real estate market has seen significant investment due to:
AState government subsidies for Chattanooga development exclusively
BAffordable prices, quality of life, growing tech industry, and outdoor recreation proximity✓ Correct
CTVA's relocation of its headquarters to Chattanooga
DTREC's designation of Chattanooga as a priority development zone
Explanation
Chattanooga has attracted significant real estate investment driven by relatively affordable property prices (compared to Nashville), quality of life amenities, a growing technology sector (including Volkswagen and Amazon operations), and proximity to outdoor recreation in the surrounding mountains.
Related Tennessee Property Valuation Questions
- The appraised value established in a residential appraisal is most accurately described as:
- When a Tennessee appraiser adjusts a comparable sale for condition, they are accounting for differences in:
- A Chattanooga home's market value is $275,000. The replacement cost of improvements is $230,000, the lot value is $55,000, and total depreciation is $30,000. What is the cost approach value?
- The income approach to value is most appropriate for:
- Paired sales analysis is a method used in the sales comparison approach to:
- Comparative Market Analysis (CMA) is typically prepared by a:
- In Tennessee, an appraisal's 'reconciliation' step involves:
- The cost approach formula is: Value = Land Value + (Cost New − Depreciation). If land value is $80,000, cost new is $250,000, and total depreciation is $40,000, what is the estimated value?
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