Property Valuation
An appraiser is estimating the value of a Vermont lake house. The property has a direct sandy beach that adds significant value. How would the appraiser capture this value?
ABy using only commercial comparables
BBy selecting comparables with similar lakefront/beach access and making adjustments for differences in beach quality and frontage✓ Correct
CBy ignoring water access as a non-quantifiable amenity
DBy applying a flat $50,000 premium to all lakefront properties
Explanation
Vermont appraisers value lakefront properties by selecting comparables with similar water access characteristics and then making specific adjustments for differences in beach quality, frontage footage, waterfront depth, and access. Paired sales analysis can help quantify the value contribution of specific water features.
Related Vermont Property Valuation Questions
- In Vermont's rural market, which appraisal approach is typically given the most weight for single-family residential properties?
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