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A course equips students with the knowledge and skills to assess property value and effectively manage real estate assets in a dynamic market.
It is the value created and sustained when there is a proper equilibrium in the amount and location of essential type of real estate.
It is concerned with the progress of subtracting any extraneous graphic information from the diagram.
This principle states that the value of a particular component is measured in terms of its contribution to the value of the whole property.
Activities offering the same service will occupy locations in view to offer goods or services to the whole area.
It documents the visual, audible, tactile and olfactory aspects of the site.
Which of the following are the factors to watch out for assessing a neighbourhood?
This principle is the major reason why a market value estimate is only valid at a specific point in time.
The property value is determined by the cost of an equally desirable substitute property.
It is the value of a residential or commercial real estate goes up depending on its demand and supply position.
Which of the following are the forces that influence real property markets?
Real property is physical commodity only, the supply of real estate refers to the amount of service or the usability of the space and the quantity of physical space.
The primary responsibility of the assessor is to estimate the market value of each property within the jurisdiction.
The principle maintains that between dissimilar properties, the value of the better property will be adversely affected by the presence of the property of lesser value.
It is the process of selling real estate without representation of real estate broker or agent.
The sales comparison approach helps real estate professionals and buyers determine if the price of a home is fair and comparable to the current market.
It is the comparison that include homes oaf about the same square footage on parcels of land that are about the same size.
The demand in real estate is the amount of a certain type of real estate desired for purchase or rent at various prices in a given market for a given period of time.
Which of the following are the methods of marketing the real estate?
While the goods and services that are necessities do not see much fluctuation in the demand.
It presents all vehicular and pedestrian movement patterns on and around the site.
It is implicitly or explicitly assert the grantor’s ownership of the property conveyed, but make no guarantee to defend the title.
This group includes people who both own their homes and live in them making them investors and consumers.
It is the total amount paid for the property including the cash down payment and amounts financed.
The physical factor that has natural boundaries such as river, lakes and ocean.
Which of the following are the elements of comparison?
It includes contours, drainage patterns, soil type and bearing capacity trees, rocks, ridges, peaks, valley, pools and ponds.
It is the net income to the land remaining after the costs of other agents of production have been paid.
The appraiser must indicate the price range and predominant price of properties in the subject neighbourhood.
Which of the following are the natural and man-made forces that may be analyzed for real estate appraisal purposes?
This profession specialized in appraising homes like condominium, and family houses.
A physical factor that define the property boundaries and consider the neighboring properties as well.
An appraisal can be used as a guide if you are planning to sell a house and indication of what the price you may achieve when you sell.
Neighborhood analysis is a report real estate investors create to help calculate the investment potential of a rental property based on the characteristics of the neighbourhood the property is located in.
These are real estate consumers and they do not invest real estate.
It is the value of any component of a property is measured by how much it adds to the net income by reason of its presence or detracts from the net income by reason of its absence.
It is a property valued differently if the owner has a fee simple interest compared to a leased fee interest.
Which of the following are the factors that affect the accuracy of a cost approach real estate appraisal?
These are the deeds by which title or property sold to discharge delinquent taxes is transferred by a tax collector or other authorized officer of the law to the purchaser at a tax sale.
It is the sole owner of the parcel of real property.
Appraisals make the home buying process easier as you get accurate information about your property’s market value.
Neighborhood characteristics and trends influence the value of one to four unit residences.
This profession that specialized in property that produces income like hotels, buildings etc.
The physical factor that influence issues as runoff and flooding hazards as well as availability of land for development.
it include state map and city map showing location of site relation to city as a whole.
Depending on the local economy and market for real estate, prices may trend in either a positive or negative direction over time.
This is the date on which the sale was closed or completed.
It is the law that holds that increments in the agents of production added to a parcel of property produce greater net income up to a certain point.
A market will demand less of an item at a higher price and more at a lower price.
Specific property may offer what seems to be no potential but if the surrounding houses are rough and uncared for.
It is a method where the appraiser uses the income approach to determine the value of a property.
This principle is about how the land is utilized in a particular area.
It is executory contracts for the purchase of real property under the terms of which legal title to the property is retained by the seller until such time as all the conditions stated in the contract have been fulfilled.
A real estate valuation is important to calculate a prediction of price-taking clues from the market forces, factor of finance, accounting, economics and law driving the real estate market.
It is important to document and verify the sale transaction and obtain information on the type of deed associated with the sale.
Which of the following are the policy issues of appraisers?
Real estate buyers might view the appraisal as a check on their own willingness to pay.
It is the transfer the title to the property to a trustee to be held in trust.
It is a deed that provides the highest level of protection to the buyer and establishes that the seller owns a property and has legal right to sell it.
It is a key element in real estate valuation because an individual property’s value is dependent upon the properties and area that surrounds it.
Appraisals express value as the monetary relationship between properties and those who buy, sell or used those properties.
It is a real estate appraisal method that compares a property to other properties with similar characteristics that have sold recently.
It is the desire and ability to purchase or lease goods and services.
These are people who exclusively invest in real estate and do not reside in the property themselves.
The maximum distance each unit of demand is willing to travel to reach a service or the maximum distance a product can be shipped to a customer.
It is a deed is not nearly as protective as the general warranty deed in that the seller warrants he or she has received title and ensures the property was not encumbered during his or her ownership.
It involves an increase in the money supply in relation to the availability of assets, commodities, goods and services.
This method of real estate appraisals where a property’s value is surmised by looking at the sales price of similar properties for sale in the same area or market.
It is a written legal instrument that when duly executed, conveys an interest in the legal title of the property.
Which of the following are the jobs of an Appraiser?
Lenders rely on appraisal because the property serves as a collateral for a mortgage loan.
The principle where profits create competition and excessive profits breed competition that tends to destroy those profits.
The role of contextual analysis in design is that informing about the site prior to the beginning to the design concepts so that the early thinking about the building can incorporate meaningful responses to external conditions.
It is the comparison of homes with ones of similar age and if an older home needs upgrades.
The principle that real property value is created and sustained when contrasting, opposing or interacting elements are in a state of _________?
This category deals with the type capacity and location of all utilities on, adjacent to and near the site.
The supply of real estate is dependent on the costs of the four agents of production, which are brought together to produce a product that is offered for sale.
It comprises all direct and indirect costs required to construct and market the product as land alone or with the improvements.
These are the deeds that give ownership rights in property bought at a sheriff’s sale.
Existing locations try to expand their ranges in order to attract more customers.
Which of the following are market characteristics in the analysis of economic forces?
It is studied by the appraisers primarily relate to population characteristics.
It is the highest and best use is estimated by the appraiser based on current market conditions.
It documents all the dimensional aspects of the site including boundaries, location and dimension of easements and present zoning classification with all its dimensional implications.
The price of acquiring inequitable desirable substitute property tends to set property value.
The appraiser should provide an outline of the neighbourhood boundaries which should be delineated using north, south, east and west.
It is essentially toward strengthening the meaning transfer between what the diagram is saying visually and what site fact is saying contextually.
Real estate is pricey because individuals, businesses and institution want to buy property and this creates an economic value.
A population with a high-income level has much more purchasing power than a population with a low income.
It is a buyer that pays a higher sales price for a property in exchange for below market rating financing.
When the supply of the agents of production declines, the property values again tend to rise.
It can help to provide a starting point for the value of homes in the area.
It is a value estimate that should consider an arm’s length transaction between two unrelated parties.
It states that when several similar or commensurate commodities, goods and services are available the one with the lowest price attracts the greatest demand and widest distribution.
The first thing an entrepreneur generally considers in developing a property is the cost of acquiring the _____?
Real estate development requires investments such as equipment, buildings and infrastructure etc.
It is the legal climate at a particular time or in particular place may overshadow the natural market forces of supply and demand.
The sales comparison approach entails looking at local properties to see what they have in common.
It is a measure of the value of property based upon the price that a professional appraiser believes the property could be sold for under normal market conditions.
It holds that the real property value is created and sustained when the characteristics of a property conform to the demands of its market.
It presents the immediate surroundings of the site for three to four blocks beyond the site boundary.
It represents between buyer and seller the interactive efforts of two or more potential buyers or seller to make purchase or secure a lease.
It is the net income that remains after the proper cost of labour, coordinating expenses and capital have been paid or satisfied.
It is the geography of where real estate is located and the condition of the local topography could have direct effects on the value assigned to all comparable properties.
These are real estate investors who prepare undeveloped land for construction and build new housing in the market.
Which of the following are the appraiser’s investigation to access property type?
It involves the making the diagrammatic forms of communicative as possible.
It is a surface over which a demand or supply offered at a specific location is expressed.
It presents all the pertinent climate conditions such as rainfall, snowfall, humidity and temperature variations over the month of the year.
It documents on the site conditions such as buildings, walls, drives curb cuts, hydrants, power poles and paving patterns.
The principle that affirming that the property of lesser value will be enhanced by proximity to better properties.
Individual markets also set standards of conformity especially in terms of _______?
The minimum demand is necessary to support an economic activity such as service.
This approach focuses on evaluating properties that will be used to generate income.
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