The "principle of conformity" means that properties that are similar in style, size, and quality tend to be worth more than those that are more improved than the "conforming level." This is sometimes known as "regression."
These are questions that the above text answers:
1. What is the principle of conformity in real estate?
2. How does the principle of conformity impact the value of properties?
3. What factors determine whether a property conforms to the principle of conformity?
4. What is the relationship between the style, size, and quality of a property and its value?
5. What is meant by the term "regression" in relation to the principle of conformity?
6. How does the principle of conformity affect properties that are more improved than the conforming level?
7. What are some examples of properties that would be considered to conform to the principle of conformity?
8. How does the principle of conformity differ from the principle of regression in real estate?
9. Can properties that do not conform to the principle of conformity still have value?
10. Are there any exceptions to the principle of conformity in real estate?