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38 Matching questions

  1. Highest and best use
  2. Utility
  3. USPAP
  4. Three approaches to value
  5. Progression
  6. Reconciliation
  7. Principle of contribution
  8. Principle of change
  9. Regression
  10. The law of increasing and diminishing returns
  11. Principle of competition
  12. Market price
  13. Plottage
  14. Appraiser
  15. Principle of substitution
  16. Basic principles of value
  17. Value
  18. BPO
  19. Title XI of the financial institutions Reform, Recovery, and enforcement Act of 1989 (FIEREA)
  20. Scarcity
  21. AQB
  22. Market Value
  23. The principle of substitution
  24. Principle of anticipation
  25. Assemblage
  26. CMA
  27. Income approach
  28. The principle of supply and demand
  29. Appraisal
  30. Sales comparison approach
  31. Appraisal report
  32. APB
  33. URAR
  34. Transferability
  35. Principle of conformity
  36. For appraisals: depreciation is devided into three classes
  37. Cost approach
  38. demand
  1. a The monetary worth based on desirability. Created by demand , utility, scarcity, and transferability of property. (DUST)
  2. b The need or desire for possession or ownership backed by the financial means to satisfy that need
  3. c The relative ease with which ownership rights are transferred from one person to another
  4. d An opinion of market value on a property given to a lender or client with detailed market information
  5. e The foundation of the sales comparison approach. A buyer will not want to pay more for a property than it would cost in an equally desirable and suitable property.
  6. f Physical depreciation, functional obsolescence, and external obsolescence.
  7. g Dictates that prices will rise when demand is high, relative to supply, and prices will fall when supply is high, relative to demand.
  8. h A property's asking, offer or sales price
  9. i Appraiser Qualifications Board - sets minimum requirements for education and experience for licencing or certification
  10. j A finite supply
  11. k Comparative market analysis - a report by real estate professionals of market statistics, it is not an appraisal.
  12. l Is the effect when a property'S value is lower because of less valuable properties in the vicinity.
  13. m Uniform Standards of PROFESSIONAL APPRAISAL PRACTICE - Criteria that appraisers must follow in order to do an appraisal
  14. n The cost approach, the sales comparison approach, and the income approach
  15. o Include anticipation of certain things, change that can be physical or economic, competition for clients or customers, conformity of properties in a neighborhood, and contribution to a property'S value of any individual improvement
  16. p Aka: market data approach - makes use of sales of properties comparable to the property that is the subject of the appraisal by adding or subtracting from the sales price of each comp, the value of a feature, present or absent, in the subject property, versus the comparable
  17. q Combining 2 or more parcels of land
  18. r Is the increase in value when 2 or more parcels of Land are combined.
  19. s Value is created by the expectation that certain events will occur
  20. t An independent professional trained to provide an unbiased opinion of value in an impartial and objective manner, following an identified appraisal process
  21. u When additional property improvements no longer brings a comparable increase in property value
  22. v Appraisal Practices Board - recommends acceptable business practices
  23. w Uniform Residential Appraisal Report -
  24. x The value of any part of a property is measured by its effect on the value of the whole parcel
  25. y An opinion based on supportable evidence and appraisal methods.
  26. z Based on the principle of substitutions. Uses the current cost of constructing buildings and other property improvements and the estimate of accrued depreciation using the straight line method, or an estimate of individual items of physical deterioration, functional obsolescence or external obsolescence
  27. aa The use that is physically possible, legally permitted,economically or financially feasible and the most profitable or maximally productive.
  28. ab Requires that any appraisal used in connection with a federally needed transaction be performed by a competent individual who is licensed or certified by the state in which the appraiser practices.
  29. ac The property's usefulness for its intended purposes
  30. ad Is the evidence when a property'S value is enhanced because of more valuable properties in the vicinity.
  31. ae The most probable price that the property should bring in a fair sale.
  32. af Maximum value is created when a property is in harmony with its surroundings
  33. ag No physical or economic condition remains constant
  34. ah Is Based on the present value of the right to future income arrived by (GIVEN) - GROSS, INCOME, VACANCY, EXPENSES AND NET OPERATING INCOME :
    1) estimating annual potential gross income
    2) ducting an allowance for vacancy and rent loss to find effective gross income
    3) deducting annual operating expenses to find net operating income
    4) estimating the rate of return (cap rate) for the subject by analyzing cap rates of similar properties.
    5) deriving an estimate of the subject'S market value by applying the cap rate to the property'S annual NOI (NET OPERATING INCOME) using this formula : noi÷cap rate=value
  35. ai The interaction of supply and demand creates competition
  36. aj The maximum value of a property tends to be set by how much it would cost to purchase an equally desirable and valuable substitute property
  37. ak The process by which the validity and reliability of the results of the approaches to value are weighed objectively to determine the appraiser'S final opinion of value.
  38. al Brokers price opinion - used in non-federally related transactions for home equity loans, portfolio management, loss mitigation and collections.