Property Valuation
In Wyoming, the Wyoming Board of Real Estate Appraisers (WBREA) is responsible for:
ASetting property values for county assessors
BLicensing and regulating real estate appraisers in Wyoming✓ Correct
CReviewing all appraisals used in federally insured transactions
DCertifying real estate agents to perform appraisals
Explanation
The Wyoming Board of Real Estate Appraisers licenses and regulates appraisers in Wyoming under the requirements of the Financial Institutions Reform, Recovery, and Enforcement Act (FIRREA), which requires state licensing of appraisers for federally related transactions.
Related Wyoming Property Valuation Questions
- A Wyoming residential appraisal using the sales comparison approach typically requires a minimum of:
- A Wyoming appraiser considers the 'principle of conformity' when valuing a residential property. This principle states:
- The principle of 'substitution' underlies which appraisal approach?
- A Wyoming appraiser values a ranch property. The ranch has irrigation water rights as an appurtenant right. In the appraisal, water rights should be:
- When appraising a Wyoming recreational property (hunting ranch, fishing cabin), appraisers should recognize that:
- A Wyoming appraiser notes that the comparable sales used in the sales comparison approach are from a 'buyer's market.' This means:
- A Wyoming appraiser using the direct capitalization method would estimate value by:
- Functional obsolescence in a Wyoming property is best illustrated by:
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