Property Valuation
Virginia's Hampton Roads market is unique because of sea level rise. An appraiser valuing a Hampton Roads waterfront property must account for:
AOnly the water view premium
BFlood risk, flood insurance costs, tidal inundation trends, and buyer perceptions of risk✓ Correct
COnly current market comparable sales
DHistorical appreciation only
Explanation
Hampton Roads experiences some of the highest rates of relative sea level rise (land subsidence + sea level rise) in the U.S. Appraisers must consider flood insurance costs, inundation frequency, and market reactions to these risks.
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