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REE Exam 2 Questions and Solutions | Grade A+ $16.09   Add to cart

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REE Exam 2 Questions and Solutions | Grade A+

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If the site represents 40% of the total value in a particular neighborhood, how much land value would be allocated from a $200,000 sale of a single family home? ️: $80,000.00 In the subject property's neighborhood, improved properties are selling for prices in a range of $140,000 to $160,00...

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  • June 11, 2024
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  • 2023/2024
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REE Exam 2 Questions and Solutions |
Grade A+


If the site represents 40% of the total value in a particular neighborhood, how much land

value would be allocated from a $200,000 sale of a single family home?


✔️: $80,000.00




In the subject property's neighborhood, improved properties are selling for prices in a range

of $140,000 to $160,000. Research reveals a typical land value-to-total property value ratio of

20%. What is the range of value for a similar site in this neighborhood?


✔️: $28,000 to $32,000




Land can be valued by


✔️: Sales comparison, land residual, allocation, and extraction




Land is always valued considering


✔️: Its highest and best use as though vacant.




Price per front foot is

,✔️: a physical unit of comparison




Residential sites are often valued using


✔️: A price per square foot




The subdivision development analysis technique is


✔️: Is very applicable when the main criteria of value is the number of lots that can be

developed out of a parcel of land




To estimate its market value, the land under an improved property is best compared to sales

of vacant land that


✔️: Have the same or similar highest and best use




You are asked to appraise a vacant building lot. The neighborhood is about 75% built up.

Most lots in the area are from 55 to 65 feet wide; the lot under appraisal is 60 feet.

Comparable sales indicate that lots are selling at $120 to $150 per front foot. What is a good

estimate of the price range for this lot?


✔️: $7,200 to $9,000

,The land valuation technique that relies on an analysis of ratios of land value to property

value is


✔️: Allocation




Which approach would be best to use when appraising a 15-20 year old house?


✔️: Sales comparison




An open market transaction would not be one:


✔️: Sold to a relative




Comparable sales that require no adjustment to the subject are usually sales:


✔️: In new developments with nearly identical properties




The principle of _____________ states that a buyer will not pay more for a site than for

another equally desirable one:


✔️: Substitution




For a property to be considered as a comparable:


✔️: It must be a competitive property

, It must be an open market transaction




Physical units of comparison are a substitute for adjusting for:


✔️: Size




Property sale prices


✔️: Are negotiated between buyers and sellers




Current listings that have been exposed to the market for a reasonable time


✔️: Tell the appraiser what the subject's market value cannot exceed




Units of comparison


✔️: Are items that represent a breakdown of the price based on a significant variable




Which approach is usually the most applicable for appraising residences?


✔️: Sales Comparison.




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