Basic Appraisal Principles Practice Test

Question: 1 / 400

What defines a property that most people find undesirable due to a past event or condition?

Foreclosed property

Stigmatized properties

A property is classified as stigmatized when it is perceived as undesirable due to an event or condition associated with it. This could include various factors such as a notorious crime occurring on the property, previous negative publicity, or even natural disasters that have affected its reputation. Despite being perfectly sound buildings or having marketable features, these properties may struggle to attract buyers or tenants because of the stigma attached to them.

In the context of real estate, the stigma can significantly impact the marketability and value of the property, making it a crucial consideration for appraisers and real estate agents. While foreclosed properties, vacant land, and commercial properties can each present their own sets of challenges or advantages, it is the perception shaped by past events that specifically applies to stigmatized properties.

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Vacant land

Commercial properties

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