Which principle expresses that a value today is only valid today?

• A. Chance
• B. Consistent Use
• C. Conformity
• D. Highest and Best Use

Answer: (A)

Value is a snapshot in time, shaped by current market conditions and the unpredictable events that can occur after that moment. The idea here is that the value you determine today is contingent on factors like demand, financing costs, and local conditions, which can change suddenly. That element of unpredictability—chance—means the stated value is only guaranteed for today; if conditions shift, the value can be different tomorrow.

That’s why chance is the best fit: it directly accounts for the uncertain, day-to-day factors that can alter value after the appraisal date. The other options address different aspects of value—how it should align with the market (conformity), the best legal use of the property (highest and best use), or consistency in applying methods (consistent use)—but none speak to the time-sensitive, uncertain nature of value as clearly.