What factors fall under Governmental Forces?

Governmental forces refer to the various regulations, laws, and policies established by government entities that can impact real estate appraisal and property values. One of the most significant aspects of governmental forces includes transportation infrastructure and building codes.

Transportation relates to how easily people and goods can move to and from a property, which can heavily influence its desirability and market value. Well-planned transportation links can enhance accessibility, increasing demand for properties in those areas. Building codes, on the other hand, are regulations that dictate the standards for construction and renovation to ensure safety, sustainability, and community aesthetics. These codes can affect the costs associated with property development and ultimately influence property values.

By focusing on these factors, it's clear how governmental forces play a critical role in shaping the physical and economic environment in which properties exist.