Which of the following is NOT one of the factors of value in property appraisal?

Divisibility is indeed not generally considered one of the traditional factors of value in property appraisal. The primary factors typically include utility, scarcity, and supply and demand, which directly influence a property's market value.

Utility refers to a property’s ability to meet the needs of prospective buyers or tenants. It encompasses how well the property serves its intended purpose, thereby affecting its overall value in the market.

Scarcity relates to the limited availability of a particular type of property in a given area. When a property type is in short supply, while demand remains constant or increases, its value tends to rise. This concept emphasizes the importance of location and the unique aspects of properties that can create scarcity.

Supply and demand represents the economic principle that the availability of properties (supply) and the desire of potential buyers (demand) interact to determine property values. When demand exceeds supply, property values increase, and vice versa.

Divisibility, on the other hand, refers to the capability of a property to be divided into smaller parcels or units. While it can impact certain investment strategies or market segments, it is not a fundamental determinant of value when appraising property. Appraisers typically focus on the more impactful factors like utility, scarcity, and the dynamics of supply and