Property Valuation: Definition & Principles


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question 1 of 3

Which of the following is NOT one of the four foundational pillars of property valuation?

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1. Jon builds a rustic log cabin in the middle of an urban residential area that features many ultramodern style homes. According to the principle of _____, the cabin will diminish in value.

2. Nancy's house is the most dilapidated home in her neighborhood. However, her property has been valued higher than she expected. What principle of valuation is likely at play?

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About This Quiz & Worksheet

The worksheet and quiz will help you to discover what you know about property valuation. Quiz questions will assess how property is valued and what affects property values.

Quiz & Worksheet Goals

The quiz and worksheet will guide you to:

  • Recognize the four foundational elements of property valuation
  • Understand the principle of building a different style of home that diminishes its value
  • Name the principle of valuation where property soars regardless of condition
  • Identify the principle where similar houses sell at a certain price
  • Determine the principle where a residential house would be worth less on an industrial lot than if a manufacturing plant were to be built

Skills Practiced

Practice the following skills:

  • Reading comprehension - ensure that you draw the most important information from the related lesson on property valuation
  • Interpreting information - verify that you can read information regarding the principles of property valuation and interpret it correctly
  • Information recall - access the knowledge you've gained regarding how homes lose or gain value

Additional Learning

To learn more about how homes lose or gain value, read the lesson called Property Valuation: Definition & Principles. The lesson will cover the following study objectives:

  • Define property valuation
  • Assess the acronym DUST
  • Analyze all the valuation principles