Property Valuation
When appraising a historic Craftsman bungalow in Seattle's Capitol Hill neighborhood, an appraiser should consider the premium buyers may pay for:
AThe oldest age — older homes are always worth more
BLocation, architectural integrity, proximity to amenities, and market demand for historically significant properties✓ Correct
CThe cost to upgrade all systems to modern standards
DThe potential for lot redevelopment only
Explanation
Market value reflects what buyers will actually pay. In desirable Seattle neighborhoods, historic properties with architectural integrity may command premiums. The appraiser must reflect actual market behavior and what buyers value in that specific neighborhood.
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