Certified Relocation Professional (CRP) Practice Exam

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Enhance your relocation knowledge and skills with the CRP Exam. Study with flashcards and multiple choice questions, each question has hints and explanations. Get ready for your exam!

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In a matched pairs analysis, how much does a basement contribute to the value compared to a double garage and single garage?

$7,500
$10,000
$5,000
$15,000

The correct answer is: $5,000

In matched pairs analysis, the objective is to evaluate the impact of specific property features on real estate value by comparing similar properties with differing characteristics. The analysis allows for the isolation of the value contributed by each feature, such as a basement versus garages. The contribution of a basement, when analyzed in relation to the value differences between properties that have double and single garages, reveals that the value attributed to the basement is $5,000. This figure is derived from observing comparable properties and determining how much more buyers are willing to pay for a home with a basement compared to one that has either type of garage. In this context, the basement serves as a key differentiator in property appeal and functionality, often adding a significant amount of usable space, which many buyers value highly. Therefore, the appropriately assessed contribution of a basement's added value in this matched pairs scenario is accurately represented as $5,000. Understanding these value contributions is crucial for real estate professionals to determine pricing strategies and appraisal values effectively.