Estimating the market value of real estate is complicated by the unique characteristics of real estate markets.In contrast to stock markets,real estate markets are characterized by all of the following EXCEPT:
A) No two assets are considered perfect substitutes for one another.
B) Market prices are revealed almost instantaneously and continuously to prospective buyers.
C) Transactions of similar assets occur infrequently.
D) The physical location of the asset being sold plays an important role in the pricing process.
Correct Answer:
Verified
Q1: If all appraisal methods are appropriate for
Q4: In real estate markets, a transaction occurs
Q6: Adjustments for physical characteristics are intended to
Q9: While there is no specific number of
Q10: Favorable mortgage financing may have a significant
Q14: Real estate appraisers generally distinguish among the
Q15: Which of the following would be categorized
Q17: Real estate appraisal is often considered "more
Q19: While there are several conventional approaches used
Q20: While it is often sufficient to rely
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