CONCLUSIONS (SMT-6)

• The reasonable exposure time inherent in the market value concept is always presumed to precede the effective date of the appraisal.

• Exposure time is different for various types of property and under various market conditions.

• The answer to the question “what is reasonable exposure time?” should always incorporate the answers to the question “for what kind of property at what value range?” rather than appear as a statement of an isolated time period.

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