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  1. Market Value
  2. Effective Purchasing Power
  3. Highest and Best use
  4. Going-Concern Value
  5. Utility and Scarcity
  6. Price
  7. Scarcity
  8. Marshall
  9. Investment Value
  10. Public Interest Value
  11. Insurable Value
  12. Fair value
  13. Value
  14. Use Value
  15. Utility
  16. Assessed Value
  17. 4 Factors that affect Value
  18. Cost
  19. 4 Agents of production
  20. Desire
  21. Desire and effective purchasing power
  1. a The ability of a product to satisfy a human want, need, or desire
  2. b 1) Utility
    2) Scarcity
    3) Desire
    4) Effective purchasing power
  3. c A general term covering a family of value concepts that relate the highest and best use of property to non-economic uses
  4. d The ability of an individual or group to participate in a market, to acquire goods and services with cash or its equivalent
  5. e The present or anticipated under supply of an item relative to the demand for it. Conditions of scarcity contribute to value
  6. f For appraisers, the term value alone can be misleading. Appraisers typically refer to a particular type of value rather than the word on its own
  7. g Used by appraisers in relation to production, not exchange. Cost may be either an accomplished fact or a current estimate
  8. h The value of an asset or asset group that is covered by an insurance policy; can be estimated by deducting costs of non-insurable items from market value
  9. i Can be either

    -In Use


    -In Exchange
  10. j The price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date
  11. k These are supply factors
  12. l The value of a specific property to a particular investor or class of investors based on individual investment requirements; distinguished from market value, which is impersonal and detached
  13. m The most probable price, as of a specified date, in cash, or in terms equivalent to cash, or in other precisely revealed terms, for which the specified property rights should sell after reasonable exposure in a competitive market under all conditions requisite to a fair sale, with the buyer and seller each acting prudently, knowledgeably, and for self-interest, and assuming that neither is under undue duress
  14. n These are demand factors
  15. o A purchaser's wish for an item to satisfy human needs or individual wants beyond essential life-support needs
  16. p The value of a property according to the tax rolls in ad valorem taxation; may be higher or lower than market value, or based on an assessment ratio that is a percentage of market value
  17. q 1) Labor
    2) Capital
    3) Coordination
    4) Land
  18. r The amount a particular purchaser agrees to pay and a particular seller agrees to accept under the circumstances surrounding their transaction
  19. s First major economist to consider the techniques of valuation, specifically the valuation of real estate
  20. t All tangible and intangible assets of an established and operating business with an indefinite life
  21. u The value a specific property has for a specific use