The premise for the concept of highest and best use of land as
though vacant is that
the value of a site is determined by its potential, rather than
one site cannot be substituted for another.
basic characteristics of a site can be changed.
vacant land produces maximum net operating income.
If remodeling a basement would not increase the market value of a
house enough to offset the cost, but adding a new bedroom would,
which of the following appraisal principles would apply?
Supply and demand
A property that contains super-adequacies would be an example of
the law of: