Property Valuation
When appraising a property near a Marcellus Shale gas well in West Virginia, an appraiser must consider which principle?
APrinciple of anticipation only
BPrinciple of conformity
CPrinciple of substitution
DAll value influences including proximity to industrial operations✓ Correct
Explanation
Appraisers must consider all factors that influence value. Proximity to active gas wells may affect value positively (royalty income potential) or negatively (noise, traffic, environmental concerns).
Related West Virginia Property Valuation Questions
- In the income approach for a West Virginia apartment building, 'potential gross income' minus 'vacancy and credit losses' equals:
- In West Virginia, 'market rent' in the income approach refers to:
- A West Virginia appraiser is asked by their client to 'hit a number' and provide a value that meets the client's purchase price. Complying with this request would:
- In West Virginia, a 'fee appraisal' is performed for which purpose?
- An appraiser in Morgantown, WV notes that all three sales comparison approach comparables require significant upward adjustments. This likely indicates:
- In West Virginia, the comparable sales used in the sales comparison approach should be selected based on:
- In West Virginia, which property would typically have the highest cap rate in the market?
- A West Virginia appraiser who is asked to update an old appraisal without visiting the property should:
Practice More West Virginia Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free West Virginia Quiz →