Which term means value is increased when nearby homes improve?

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Multiple Choice

Which term means value is increased when nearby homes improve?

Explanation:
Progression describes the situation where a property's value increases because it is surrounded by higher-valued homes. When nearby homes improve or the neighborhood becomes more desirable, the perceived desirability and demand lift the value of the lesser-valued property as part of the overall market appeal. This differs from plottage, which is the added value from combining parcels; reconciliation, which is the process of aligning different appraisal estimates; and market price, which is the actual sale price, not the influence of surrounding improvements.

Progression describes the situation where a property's value increases because it is surrounded by higher-valued homes. When nearby homes improve or the neighborhood becomes more desirable, the perceived desirability and demand lift the value of the lesser-valued property as part of the overall market appeal. This differs from plottage, which is the added value from combining parcels; reconciliation, which is the process of aligning different appraisal estimates; and market price, which is the actual sale price, not the influence of surrounding improvements.

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