In describing a dwelling, 'quality of construction' and 'condition' must be kept distinct because:
Correct Answer
D) A kept-up economy house and a neglected custom house differ oppositely
Why this is correct: Quality (construction class, materials, workmanship) is inherent and largely fixed. Condition (state of repair) changes over time. These are independent axes: a high-quality house can be in poor condition, and a low-quality house can be in excellent condition. Why the other choices are wrong: "Condition is permanently fixed at the moment of original construction" is false; condition deteriorates or improves. "The two words share one rating box" describes a common form error, not the conceptual reason to keep them distinct. "Quality changes with every repainting" is false; repainting affects condition, not inherent quality. Exam tip: Always rate Quality and Condition separately. Mixing them leads to inaccurate depreciation and comp selection.
Why This Is the Correct Answer
Why this is correct: Quality (construction class, materials, workmanship) is inherent and largely fixed. Condition (state of repair) changes over time. These are independent axes: a high-quality house can be in poor condition, and a low-quality house can be in excellent condition. Why the other choices are wrong: "Condition is permanently fixed at the moment of original construction" is false; condition deteriorates or improves. "The two words share one rating box" describes a common form error, not the conceptual reason to keep them distinct. "Quality changes with every repainting" is false; repainting affects condition, not inherent quality. Exam tip: Always rate Quality and Condition separately. Mixing them leads to inaccurate depreciation and comp selection.
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An appraiser is valuing a 20-acre tract zoned agricultural but crossed by a deeded right-of-way allowing public vehicular access to a lake. The right-of-way, established in 1958, is 30 feet wide and bisects the property diagonally. No compensation was paid at creation, and the landowner receives no income from it. For appraisal purposes, how should this right-of-way be classified?
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An appraiser is analyzing a residential site that slopes 15% toward the street. How would this topographic condition most likely affect the property value?