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50 Matching questions

  1. market value
  2. 4 agents of production
  3. scarcity
  4. change
  5. transferability
  6. reproduction costs
  7. cost approach
  8. anticipation
  9. commercial property value
  10. capitalization
  11. neighborhood lifecycles
  12. income approach
  13. appraisal
  14. variable expenses
  15. net operating income
  16. utility
  17. quantitative analysis
  18. economic principals of value
  19. sales comparison approach
  20. demand
  21. curable
  22. economic forces
  23. balance
  24. qualitative analysis
  25. externalities
  26. assemblage
  27. competition
  28. fixed expenses
  29. external obsolescence
  30. supply and demand
  31. law of decreasing returns
  32. residential value
  33. economic characteristics of value
  34. plottage
  35. conformity
  36. reserves for replacements
  37. reconciliation
  38. substitution
  39. direct capitalization technique
  40. incurable
  41. market theory of value
  42. SITE
  43. CA: estimate cost of new improvements
  44. physical deterioration
  45. contribution
  46. gross rent multiplier
  47. CA: estimate site value
  48. replacement costs
  49. law of increasing returns
  50. functional obsolescence
  1. a an item of physical deterioration where the cost to cure is equal to or less than the value added by curing.
  2. b evaluated by a direct capitalization technique
  3. c loss in value as a result of the passage of time or wasting away caused by the elements. deferred maintenance- can be curable or incurable. (physical depreciation)
  4. d expenses that must be paid that are not related to occupancy. (taxes, insurance)
  5. e an orderly process for analyzing the sales of similar properties in order to estimate the value of the subject property. appraiser uses data from actual market transactions
  6. f 1. physical and environmental forces
    2. economic forces
    3. governmental forces
    4. social forces
  7. g 1.growth
    2. maturity
    4. revitalization (renewal)
  8. h when the total property value is equal to the sum of the site value, plus contribution of improvements. it assumes a hypothetical buyer considers producing a substitute residence that has the same utility as the subject property. typically for new structures or "no-market properties"
  9. i the development of an opinion of a defined type of value for particular property
  10. j an appraisal concept that states that a buyer will pay no more for a property than the cost of obtaining an equally desirable substitute. when an investor looks at cost of a new structure before buying one. The maximum value of property is limited.
  11. k capital, management, land and labor
  12. l an item is worth what it has to offer in real estate
  13. m comparing data on properties to derive specific numbers that can be applied to other properties in the same market (dollar adjustments, percentage adjustments)
  14. n comparing data on properties to derive relative comparisons between properties in the same market. derives value by determining which properties are superior and inferior to the subject.
  15. o the ability to transfer ownership. If ownership cannot be transferred, than value does not exist
  16. p an item of physical deterioration where the cost to cure is greater than the value added by the curing problem
  17. q determine the value of the land
  18. r the total satisfaction received from consuming a good or service. must meet a useful need
  19. s an appraisal principle that states the value of a property depends on the quantity and price of the property type available in the market, and on the number of market participants and price that they are willing to pay
  20. t rebuilding a house. measuring a build along its exterior foundation to determine gross square footage
  21. u the lack of sufficient supply
  22. v an appraisal concept that states that economies or diseconomies outside a property's boundaries may have a positive or negative effect on its value
  23. w states that the value is determined by the actions of buyers and sellers in the marketplace in response to the influences of supply and demand.
  24. x expenses that must be paid that are related to occupancy (maintenance, management)
  25. y make as a net profit (the company made $1 million dollars last year)
  26. z the added value of the additional feature or repair will contribute more to the value of the property than its original cost
  27. aa an appraisal principal that recognizes the fact that a property and its environment are always in transition and are impacted economic and social forces that are constantly at work
  28. ab property may increase or decrease due to some future benefit or detriment coming to the neighborhood
  29. ac as a result of assembling, the larger parcel generates a greater value
  30. ad a value concept that states that value is affected by the interaction of supply and demand in the market
  31. ae the desire for a good backed by the ability to pay for the good
  32. af a technique that reaches an opinion of value for property by taking the property's income and applying a rate.
  33. ag an appraisal principle that states that the more a property is in harmony with its surroundings, the greater the contributory value. often maximizes value.
  34. ah the primary method used to estimate the present value of properties the produce income. measures value through the eyes of the investor
  35. ai the most probably price in terms of cash that a property would bring in the open market within a reasonable time.standard value sought by appraisers and real estate professionals.
  36. aj expenses that relate to items that must be replaced more than once during a lifetime of a building. (heating and cooling units)
  37. ak estimated cost to construct, at current prices, a building with utility equivalent to building being appraised, using modern material and current standard designs and layout. (used most of the time for cost estimation)
  38. al a number that expresses the relationship between the sales price of a residential property and its gross monthly unfurnished rental.
  39. am a point when added value of another feature, or additional repair, will be less than the cost to accomplish that feature or repair.
  40. an a loss in value as a result of external conditions
    locational: subject's proximity to a factory can cause loss of utility
    economic: high unemployment or high interest rates
  41. ao estimated cost to construct, at current prices, an exact duplicate, or replica of the building being appraised, using same material construction standards, design, layout, and quality.
  42. ap combining of two or more adjacent parcels of land
  43. aq determined by using a gross rent multiplier method
  44. ar the conversion of income expectancy into a capital sum or property value
  45. as 1. demand
    2. utility
    3. scarcity
    4. transferability
  46. at influence the market and cause adjustment and or correction in the marketplace
  47. au an appraisal principal that states that property value is created and maintained when contrasting, opposing or interacting elements are in state of equilibrium.
  48. av when more than once approach is used to determine the value of the subject property then the agent must decide which method provided the most reliable indicator of value
  49. aw a plot of land plus improvements that make it ready for use
  50. ax a loss in value as a result of the subject not performing the function for which is was intended. curable or incurable (functional depreciation)