Property Valuation
In Washington, the 'cost to cure' method of depreciation applies to which type of depreciation?
AOnly external obsolescence
BCurable physical deterioration and curable functional obsolescence✓ Correct
CEconomic life depreciation only
DOnly incurable depreciation
Explanation
The cost to cure method estimates the value of curable depreciation — physical deterioration or functional obsolescence that can be economically corrected (the cost to fix is less than or equal to the value added). Incurable depreciation is measured differently.
Related Washington Property Valuation Questions
- A Washington appraiser developing the sales comparison approach must ensure that each comparable sale is:
- A Washington appraiser is appraising a property for estate tax purposes. The relevant value standard is:
- An appraiser conducting an exterior-only 'drive-by' appraisal (Form 2055) must note in the report that:
- Effective age differs from actual age in appraisal because:
- In Washington, a broker's price opinion (BPO) differs from an appraisal because:
- An appraiser finds three comparable sales in Olympia: Comp A sold for $410,000 (3 months ago, inferior condition), Comp B sold for $420,000 (6 months ago, similar), Comp C sold for $415,000 (1 month ago, superior condition). The appraiser should give primary weight to:
- The principle of anticipation in Washington real estate valuation holds that:
- An appraiser reviewing a commercial property's rent roll notices that several leases are at below-market contract rents. The appraiser may account for this by:
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