Property Valuation
In Washington, the effective age of a building with an actual age of 20 years but in excellent condition with many upgrades might be:
A40 years (older effective age due to wear)
B20 years (equal to actual age)
C10 years (younger effective age due to upgrades and condition)✓ Correct
DIndeterminate without an appraisal
Explanation
Effective age reflects condition and modernization. A 20-year-old building in excellent condition with significant upgrades may have an effective age of only 10 years because its condition and utility more closely resemble a newer structure.
Related Washington Property Valuation Questions
- In Washington, the assessed value for property tax purposes is typically:
- A Washington appraiser is preparing an appraisal for a federally related loan transaction. The appraiser must comply with:
- When appraising a single-family home in Seattle, an appraiser would give the MOST weight to the:
- In Washington, the 'absorption rate' is used by appraisers and real estate professionals to measure:
- In Washington, a residential appraiser who is appraising a property in a neighborhood undergoing 'gentrification' must account for:
- Washington county assessors must complete a physical inspection of all real property at least once every:
- An appraiser values a property and uses three comparable sales. The adjusted values are $385,000, $392,000, and $378,000. The appraiser gives greatest weight to the comparable with the fewest adjustments. The comp with the fewest adjustments has an adjusted value of $392,000. What value does the appraiser most likely conclude?
- In Washington, an appraiser who discovers evidence of recent sales manipulation in the comparables data should:
Practice More Washington Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Washington Quiz →