Property Valuation
In Utah's ski resort markets (Park City, Deer Valley), vacation properties are often valued using:
AOnly the cost approach
BA combination of sales comparison and income approaches, with significant weight on rental income✓ Correct
COnly comparable sales from the Wasatch Front
DGovernment assessed value as the primary indicator
Explanation
Utah ski resort properties have both investment (rental) and lifestyle value. Appraisers often blend the sales comparison approach (for personal use properties) with the income approach (for investment rental potential).
Related Utah Property Valuation Questions
- Physical curable depreciation in an appraisal refers to:
- A Utah appraiser's final value conclusion presented in a range (e.g., $395,000–$415,000) rather than a point estimate is:
- The economic life of an improvement in Utah appraisal refers to:
- The gross income multiplier (GIM) differs from the gross rent multiplier (GRM) in that the GIM uses:
- Utah's Great Salt Lake level changes affect nearby property values through:
- Regression and progression are principles related to:
- A Utah home is listed at $400,000 but the appraiser determines the value is $375,000. The appraisal gap is:
- Assemblage refers to:
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