Value of a home is helped by other homes in the area is described by which principle?

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Multiple Choice

Value of a home is helped by other homes in the area is described by which principle?

Explanation:
Progression is the idea that a home’s value is boosted when it sits among higher-valued homes. Buyers view the area as more desirable, so even a modest property can command a higher price because of the surrounding higher values. This contrasts with plottage, which is about adding value by combining parcels into one larger property; regression, where a high-valued property loses value due to nearby lower-valued homes; and reconciliation, which is the process appraisers use to synthesize multiple value approaches into a final estimate.

Progression is the idea that a home’s value is boosted when it sits among higher-valued homes. Buyers view the area as more desirable, so even a modest property can command a higher price because of the surrounding higher values. This contrasts with plottage, which is about adding value by combining parcels into one larger property; regression, where a high-valued property loses value due to nearby lower-valued homes; and reconciliation, which is the process appraisers use to synthesize multiple value approaches into a final estimate.

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