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47 Matching questions

  1. Competition
  2. Change
  3. ROI
  4. Info obtained in an appraisal can
  5. Market Value
  6. Terms and Conditions of Sale
  7. contribution
  8. Progression
  9. Increasing and Diminishing Returns
  10. Cap rate
  11. Physical Deterioration
  12. Competitive Market Analysis (CMA)
  13. Reproduction Cost
  14. Steps of Appraisal process
  15. Appraisers qualifications
  16. Objective value
  17. Appraisal
  18. Subjective Value
  19. Replacement Cost
  20. Net Operating Income
  21. Principle of progression and regression
  22. Incurable
  23. Economic Principals of Valuation
  24. Functional Obsolesence
  25. Anticipation
  26. Neighborhood Cycle
  27. Gross Rent Multiplier
  28. Market Price
  29. Highest and best use
  30. Assemblage
  31. Important when making adjustments
  32. Locational, environmental , economic obsolescence
  33. Appraisals are good for
  34. Cost Approach
  35. Income Approach
  36. Cureable
  37. Depreciation
  38. Over improvement
  39. Substitution
  40. Plottage
  41. Elements of Value (STUD)
  42. Appraisal Reports
  43. 3 types of depreciation
  44. Conformity
  45. Forces that affect value (PEPS)
  46. Regression
  47. supply and demand
  1. a To assemble a number of parts to give them a greater value
  2. b Most profitable single use for a property
  3. c Property you are comparing must have been sold under about the same conditions you plan to sell the subject property
  4. d Supply short, demand heavy prices go up.
    Supply high, demand low, prices go down.
  5. e Excess profits tend to attract this
  6. f Determines of something is a wise improvement to a property or not.
  7. g Cost to get a building that had the same utility; however it need not be an exact duplicate
  8. h Lower price homes will go up in value towards prices of higher price homes
  9. i Lower price property will sell first
  10. j Nothing remains the same
  11. k Are the growth, stability and decline of the neighborhood based on social conformity.
  12. l Estimate value of rental properties
    =sale price/ gross income
    Very seldom used
  13. m Reasonable degree of
  14. n Are incurable - has to do with the location
  15. o Market data approach and sales comparison approach
    Most effective way for single family dwellings
    Comparing recent sales to verify data and make adjustments to come up with a value for a property we are appraising
  16. p Paid flat fee
    Must be licensed in SC
    Can not pay referral fees
    Can not charge a fee based on a % of appraised value
  17. q Improvements that don't add value to the home
  18. r Return on Investment
  19. s Scarcity
  20. t Date of sale- recent sale
    Location- roughly same location
    Physical Features- adjust comps up down to meet subject property.
  21. u Change day to day as needs change.
  22. v State the Problem (why do they want the appraisal)
    List data required
    Gather record and verify data
    Analyze and interpret data
    Apply up to three approaches to value
    Reconcile or Correlate data or Estimate value
  23. w Economically makes sense to repair
  24. x Perceived value based on use
  25. y is supported estimate or opinion of value
  26. z Present worth of future benefits
    What we hope to get.
  27. aa Economically makes no sense to repair
  28. ab Do not spend money on a property unless it contributes to its value or the income you will get from the property
  29. ac Rate of return received on an investment
    Are annual unless otherwise stated
  30. ad Higher price homes will go down in value towards the price of the lower price homes
  31. ae Has nothing to do with original cost
    Is based on the principle of substitution which states the maximum value of a property tends to be set by the cost of acquiring an equally valuable substitute property.
    Cost to Replace- Accrued Depreciation+ land=
  32. af Highest and best use
    Supply and demand
    Plottage/ assemblage
  33. ag No specific time period
  34. ah Anticipate that the property is going up in value
  35. ai Can be curable or incurable deals with the uses with in the property
  36. aj Assumes the net income derived from the property will control the value. Not concerned with gross income.
  37. ak If there are both high and low priced homes in an area people normally don't want to buy the highest priced homes.
  38. al Physical characteristics- size, shape, location, soil conditions and exposure
    economic - interest rates
    political- government regulations
    Social- neighborhood interest affects values
  39. am Short form
    Uniform Residential appraisal report- required for govt backed loans
    Lengthy written Narrative Report- most comprehensive
  40. an Exact dollar the property sells for
  41. ao Factual value
  42. ap Cost to get an EXACT duplicate
  43. aq Dividing a larger parcel into smaller parcels
  44. ar Normal maintenance and wear and tear of the property
  45. as = gross income-vacancy - expenses
  46. at Any condition that adversely affects the value of property
    Land can not be this...
  47. au Physical
    Functional obsolescence
    Locational Environmental/ economic obsolescence