Property Valuation
In Washington, the cost approach to value is most reliable for appraising:
AOlder residential homes with many comparable sales
BIncome-producing properties with stabilized occupancy
CSpecial-use properties with few comparable sales, such as schools or churches✓ Correct
DVacant land
Explanation
The cost approach is most reliable for special-use or unique properties (such as schools, churches, and government buildings) where there are few comparable sales or rental income data.
Related Washington Property Valuation Questions
- Reconciliation in a Washington appraisal report means:
- Functional obsolescence in a Washington residential property is best illustrated by:
- The gross income multiplier (GIM) method of valuation uses which time period for income?
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- In Washington, a residential appraiser who is appraising a property in a neighborhood undergoing 'gentrification' must account for:
- In a Washington appraisal, 'gross living area' (GLA) typically excludes which areas?
- In Washington, which appraisal report form is used for standard single-family residential home appraisals for conventional lending purposes?
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