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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.
Real estate buyers might view the appraisal as a check on their own willingness to pay.
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.
It is a property valued differently if the owner has a fee simple interest compared to a leased fee interest.
The physical factor that has natural boundaries such as river, lakes and ocean.
It is studied by the appraisers primarily relate to population characteristics.
Which of the following are the elements of comparison?
While the goods and services that are necessities do not see much fluctuation in the demand.
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 is the net income that remains after the proper cost of labour, coordinating expenses and capital have been paid or satisfied.
It is concerned with the progress of subtracting any extraneous graphic information from the diagram.
Depending on the local economy and market for real estate, prices may trend in either a positive or negative direction over time.
This profession that specialized in property that produces income like hotels, buildings etc.
Individual markets also set standards of conformity especially in terms of _______?
Which of the following are market characteristics in the analysis of economic forces?
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.
Activities offering the same service will occupy locations in view to offer goods or services to the whole area.
It is the net income to the land remaining after the costs of other agents of production have been paid.
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 the legal climate at a particular time or in particular place may overshadow the natural market forces of supply and demand.
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.
It is the comparison that include homes oaf about the same square footage on parcels of land that are about the same size.
It is the total amount paid for the property including the cash down payment and amounts financed.
It is a written legal instrument that when duly executed, conveys an interest in the legal title of the property.
The primary responsibility of the assessor is to estimate the market value of each property within the jurisdiction.
Which of the following are the jobs of an Appraiser?
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.
This approach focuses on evaluating properties that will be used to generate income.
It documents on the site conditions such as buildings, walls, drives curb cuts, hydrants, power poles and paving patterns.
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.
This is the date on which the sale was closed or completed.
Existing locations try to expand their ranges in order to attract more customers.
Neighborhood characteristics and trends influence the value of one to four unit residences.
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.
The appraiser should provide an outline of the neighbourhood boundaries which should be delineated using north, south, east and west.
Which of the following are the forces that influence real property markets?
It is essentially toward strengthening the meaning transfer between what the diagram is saying visually and what site fact is saying contextually.
The price of acquiring inequitable desirable substitute property tends to set property value.
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.
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.
Which of the following are the appraiser’s investigation to access property type?
It is the process of selling real estate without representation of real estate broker or agent.
it include state map and city map showing location of site relation to city as a whole.
It is a real estate appraisal method that compares a property to other properties with similar characteristics that have sold recently.
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.
This group includes people who both own their homes and live in them making them investors and consumers.
The principle that affirming that the property of lesser value will be enhanced by proximity to better properties.
These are the deeds that give ownership rights in property bought at a sheriff’s sale.
Appraisals express value as the monetary relationship between properties and those who buy, sell or used those properties.
It represents between buyer and seller the interactive efforts of two or more potential buyers or seller to make purchase or secure a lease.
The property value is determined by the cost of an equally desirable substitute property.
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.
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.
These are real estate consumers and they do not invest real estate.
Which of the following are the natural and man-made forces that may be analyzed for real estate appraisal purposes?
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 is the value of a residential or commercial real estate goes up depending on its demand and supply position.
It is the desire and ability to purchase or lease goods and services.
It is the value created and sustained when there is a proper equilibrium in the amount and location of essential type of real estate.
The principle that real property value is created and sustained when contrasting, opposing or interacting elements are in a state of _________?
This principle states that the value of a particular component is measured in terms of its contribution to the value of the whole property.
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 documents the visual, audible, tactile and olfactory aspects of the site.
It is the sole owner of the parcel of real property.
These are people who exclusively invest in real estate and do not reside in the property themselves.
It can help to provide a starting point for the value of homes in the area.
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 important to document and verify the sale transaction and obtain information on the type of deed associated with the sale.
A market will demand less of an item at a higher price and more at a lower price.
It is a surface over which a demand or supply offered at a specific location is expressed.
It is the comparison of homes with ones of similar age and if an older home needs upgrades.
It is the transfer the title to the property to a trustee to be held in trust.
The sales comparison approach entails looking at local properties to see what they have in common.
A physical factor that define the property boundaries and consider the neighboring properties as well.
Which of the following are the factors to watch out for assessing a neighbourhood?
It is a buyer that pays a higher sales price for a property in exchange for below market rating financing.
It is the highest and best use is estimated by the appraiser based on current market conditions.
This profession specialized in appraising homes like condominium, and family houses.
The minimum demand is necessary to support an economic activity such as service.
Which of the following are the methods of marketing the real estate?
Appraisals make the home buying process easier as you get accurate information about your property’s market value.
Which of the following are the policy issues of appraisers?
Lenders rely on appraisal because the property serves as a collateral for a mortgage loan.
It presents the immediate surroundings of the site for three to four blocks beyond the site boundary.
Which of the following are the factors that affect the accuracy of a cost approach real estate appraisal?
Specific property may offer what seems to be no potential but if the surrounding houses are rough and uncared for.
It includes contours, drainage patterns, soil type and bearing capacity trees, rocks, ridges, peaks, valley, pools and ponds.
The appraiser must indicate the price range and predominant price of properties in the subject neighbourhood.
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.
It involves the making the diagrammatic forms of communicative as possible.
When the supply of the agents of production declines, the property values again tend to rise.
It presents all the pertinent climate conditions such as rainfall, snowfall, humidity and temperature variations over the month of the year.
It comprises all direct and indirect costs required to construct and market the product as land alone or with the improvements.
This principle is the major reason why a market value estimate is only valid at a specific point in time.
It involves an increase in the money supply in relation to the availability of assets, commodities, goods and services.
The principle where profits create competition and excessive profits breed competition that tends to destroy those profits.
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.
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.
It is a method where the appraiser uses the income approach to determine the value of a property.
It is a value estimate that should consider an arm’s length transaction between two unrelated parties.
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.
Real estate is pricey because individuals, businesses and institution want to buy property and this creates an economic value.
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.
A population with a high-income level has much more purchasing power than a population with a low income.
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.
Real estate development requires investments such as equipment, buildings and infrastructure etc.
The physical factor that influence issues as runoff and flooding hazards as well as availability of land for development.
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.
The first thing an entrepreneur generally considers in developing a property is the cost of acquiring the _____?
This category deals with the type capacity and location of all utilities on, adjacent to and near the site.
This principle is about how the land is utilized in a particular area.
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.
These are real estate investors who prepare undeveloped land for construction and build new housing in the market.
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