Ten Principles of Value While many property owners could probably make a fair guess as to the value of their property, they would still be unable to identify all or most of the factors that contribute to that value. The knowledge of precisely what those factors are how they influence value is part of what lends credence to a professional estimate of market value. The basic value principles are interrelated and their relative importance will vary depending up on particular local conditions. When analyzing a property to determine market value, it is important to consider it in light of all the following principles. 1. Highest and Best Use. The use that provides the greatest net return over a period of time. It could be determined by current zoning or changes in the zoning. Reside...
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