Which of the following does NOT contribute to determining a property's market value?

Which of the following does NOT contribute to determining a property's market value?

• A. Market trends and economic factors
• B. The physical condition of the property
• C. Emotional attachment of the owner
• D. Comparable sales data

Answer: (C)

Emotional attachment of the owner does not contribute to determining a property's market value because market value is primarily based on objective criteria rather than subjective feelings. Market value is influenced by tangible factors such as market trends and economic conditions, which indicate how much buyers are willing to pay based on the property's condition, location, and comparable sales in the area. While the owner’s emotional attachment to the property may impact their willingness to sell or the price they hope to achieve, it does not reflect the broader market dynamics that ultimately establish a property’s market value. Pricing should be rooted in actual market data and trends rather than personal sentiments.

Emotional attachment of the owner does not contribute to determining a property's market value because market value is primarily based on objective criteria rather than subjective feelings. Market value is influenced by tangible factors such as market trends and economic conditions, which indicate how much buyers are willing to pay based on the property's condition, location, and comparable sales in the area.

While the owner’s emotional attachment to the property may impact their willingness to sell or the price they hope to achieve, it does not reflect the broader market dynamics that ultimately establish a property’s market value. Pricing should be rooted in actual market data and trends rather than personal sentiments.