Functional obsolescence - Study guides, Class notes & Summaries

All of the following are prohibited under the antitrust laws EXCEPT -Competing property management companies agreeing to standardized management fees -competing brokers allocating markets based on the value of homes -a broker's setting a company commission schedule -real estate companies agreeing NOT to cooperate with a broker because of the fees that broker charges - ️️a broker's setting a company commission schedule A rancher owns a parcel of land on which oil was discovered. ...

PrepAgent Exam Questions With 100% Correct Answers 2024/2025 For the past 30 years, the Ls have operated a neighborhood grocery store. Last week the city council passed a zoning ordinance that prohibits packaged food sales in the area where the Ls' grocery store is located. The store is now an example of a/an: A) nonconforming use. B) variance of the zoning laws. C) violation of eminent domain. D) illegal enterprise. A) nonconforming use. Explanation: This is an example of "grandfa...

Real Estate Practice Exam Questions Answered 100% Correctly 2024 Real Estate Practice Exam Questions Answered 100% Correctly 2024 1. Brokerage definition... the business practice of bringing together the parties in a practice. 2. What are two examples of special use property? schools and cemetary 3. What is an example of functional obsolescence? bathroom 4. Principal definition... a consumer of real estate services who has entered into an agency relationship with a broker or another ...

Which would NOT be used in the capitalization approach? A. gross income B. operating expenses C. reproduction cost D. allowance for vacancy - C. reproduction cost A property had a land value of $40,000, a 2,000 square feet structure with a rebuilding cost of $70 per square foot, depreciation of $5,000 due to functional obsolescence and $1,500 due to physical depreciation. What would be the estimate of value for this property using the cost approach? A. $133,500 B. $140,000 C. $173,500 ...

Arkansas Real Estate Exam Questions and Answers 100% Pass Homeowner Dean owns the Northwestern 1/2 of the Northwestern 1/2 of the Northeastern 1/4 of the southwestern 1/4 of the south western 1/4 of section 31. how many acres is that property? A. 5 acres B. 10 acres C. 80 acres D. 2.5 acres - Correct Answer ️️ -2 x 2 x 4 x 4 x 4= 256 640/256= 2.5 D. 2.5 acres Seller Gareth is certain there are no clouds on his property's title. What type of deed should he provide buyers to show ...

Which statement provides the basic justification for zoning? A. There must be regulations in place to prevent pollution B. The government does not want to encourage land development C. The inappropriate use of one's property may affect the value of another D. Professional planners want to control development - Answer- C. The inappropriate use of one's property may affect the value of another What is the rationale behind government planning of real estate development? A. To manage futu...

Functional obsolescence - ANSWER Refers to the loss in desirability of the style, layout or function of an element of a property over time Sales comparison - ANSWER best indicator of value for existing properties highest and best use - ANSWER the legal use for property that gives the greatest return in money and/or amenities external obsolescence - ANSWER the loss in value of a property caused by factors outside the property itself principle of contribution - ANSWER suggests the...

MI Real Estate - Valuation & Market Analysis TEST Graded A+ What is the purpose of an appraisal? 1 » This is a scientific inexact way of determining value 2 » To give an average value derived from various sources 3 » To give a determination of value 4 » To give an estimate of value 4 » To give an estimate of value (An appraisal is used to estimate value only.) The best way to estimate value for a residential property is with: 1 » the owner's opinion 2 » an appraisal ...

Barney Fletcher Practice Exam 1 Questions & Answers (Graded A)Barney Fletcher Practice Exam 1 Questions & Answers (Graded A)Barney Fletcher Practice Exam 1 Questions & Answers (Graded A)Barney Fletcher Practice Exam 1 Questions & Answers (Graded A)Barney Fletcher Practice Exam 1 Questions & Answers (Graded A) Which would NOT be used in the capitalization approach? A. gross income B. operating expenses C. reproduction cost D. allowance for vacancy - ANSWER C. reproduction cost A propert...

A house with outmoded plumbing is suffering from -curable physical deterioration -external depreciation -incurable physical deterioration -functional obsolescence - correct answer functional obsolescence In order to be a License member of the commission, a person must be -a KY citizen -a non-felon -all of the above -a licensed broker - correct answer all of the above A licensed real estate professional acting as a point of contact between two or more people in negotiating the sale, re...