Property Valuation
Regression and progression are principles related to:
AThe direction of property values in a market cycle
BHow a property's value is affected by surrounding lower- or higher-valued properties✓ Correct
CThe rate at which a building's value decreases over time
DStatistical methods for adjusting comparable sales
Explanation
The principle of regression holds that a high-value property surrounded by lower-value properties is pulled DOWN in value. The principle of progression holds that a lower-value property surrounded by higher-value properties is pulled UP in value.
Related Utah Property Valuation Questions
- Months of housing supply in the Salt Lake City market is calculated as:
- The principle of progression in Utah real estate states that:
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- An appraisal review in Utah is conducted to:
- A Utah home is listed at $400,000 but the appraiser determines the value is $375,000. The appraisal gap is:
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