Which factor is NOT a rule addressing market value?

Market value is generally determined by objective factors that can be assessed and measured. Economic conditions, such as supply and demand dynamics, interest rates, and inflation, play a crucial role in establishing market value by influencing what buyers are willing to pay for properties. The political climate can also impact market conditions, especially regarding regulations, taxes, and zoning laws, all of which can affect property values.

Social trends contribute to market value as they reflect demographic changes and shifts in consumer behavior that may alter preferences for certain types of properties or locations. For instance, a growing community may drive up demand in an area, impacting property values.

In contrast, personal preferences of buyers are subjective and vary from one individual to another. They do not have the same objective influence on the overall market value of properties. Individual tastes and preferences are important to understand when marketing a property, but they are not generalized rules used to assess or establish market value across the broader real estate market. Thus, personal buyer preferences do not serve as a foundational element in determining the market value, as they are not universally applicable like the other factors mentioned.