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Two lots of the same size are sold on a street. The lot on the corner sells for $20,000 more than the lot in the middle of the street. Which of the following characteristics MOST likely explains the price difference?

A. Situs
B. economic recovery
C. anticipation
D. appreciation

asked
User Enginer
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1 Answer

5 votes

Final answer:

The price difference between the lots is most likely due to Situs, a concept that values the location and its appeal because of the surrounding amenities and advantageous features associated with corner lots.

Step-by-step explanation:

The most likely characteristic that explains the price difference between the lot on the corner and the lot in the middle of the street is Situs. The concept of situs relates to the location of a property and its appeal due to its surroundings and proximity to various amenities. Corner lots typically carry higher value because they often have additional advantages such as better visibility, access, and potentially, less neighbor adjacency compared to middle lots. These desirable location qualities tend to increase the property's value.

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User Preynolds
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