Which factor would NOT be considered in a highest and best use analysis of a vacant land parcel?
Correct Answer
C) The owner's personal preferences for how the land is used
Highest and best use analysis must be objective and based on market factors, not the owner's personal preferences. The analysis considers what use would be legally permissible, physically possible, financially feasible, and maximally productive from a market perspective.
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In applying the summation approach to value a heritage-listed property in Sydney, which additional factor must be specifically considered?
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