Which of the following is NOT one of the four factors of value?

The four factors of value in real estate appraisal are utility, scarcity, desire, and transferability. Each of these factors contributes to determining an asset's market value.

Utility refers to the usefulness of a property and how it meets the needs of potential buyers or users. Scarcity relates to the limited availability of certain types of properties or land, which can increase value as demand outstrips supply. Desire reflects the buyer's willingness to pay for a property based on its appeal or perceived value in the market.

Durability, while it may seem relevant, is not one of the four primary factors of value. It describes the structural integrity and longevity of a property or its components, but it does not directly influence the market value as the other four factors do. Therefore, identifying durability as not being one of the four factors of value is accurate and helps ensure clarity on what truly impacts property valuation in appraisal practices.