Humber/Ontario Real Estate Course 3 Exam Practice

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Prepare for the Humber/Ontario Real Estate Course 3 Exam with our comprehensive quiz. Dive into engaging practice questions that will enhance your understanding and readiness for the test. Elevate your confidence and get ready to ace your exam!

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Which factor is most likely to influence a home's market value?

Proximity to schools and amenities.
The age of the homeowner.
The seller's urgency to sell.
The original purchase price.

The correct answer is: Proximity to schools and amenities.

Proximity to schools and amenities plays a significant role in influencing a home's market value because these features are often critical considerations for potential buyers. Families typically prioritize access to quality schools and nearby amenities such as parks, shopping centers, and healthcare facilities when searching for a home. This demand can lead to an increase in the market value of homes located near these desirable locations. Other factors, such as the age of the homeowner or the seller's urgency to sell, can impact individual transactions but are less likely to affect overall market value. The original purchase price may provide insight into the historical value of a home, but it does not necessarily reflect current market conditions or buyer preferences.