Market neighborhood - Study guides, Class notes & Summaries

MCKISSOCK BASIC APPRAISAL PRINCIPLES CERTIFICATION EXAM QUESTIONS AND ANSWERS market neighborhood - Answer-group of complementary land uses, congrugous grouping of inhabitants district - Answer-neighborhood characterized by homo land use market area - Answer-geographic region from which a majority of demand comes and in which the majority of competition is located amenity - Answer-benefit of real estate that enhances attractiveness of the user real estate money demand - Answer-Curr...

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...

appraisal - Answer- value of a property maybe affected by social, economic, govt and environmental influences Loan-to-Value Ratio (LTV) - Answer- The percentage of value or sales price that a lender is willing to finance. limited appraisal report - Answer- exterior only/drive by inspection. deemed as low risk loan highest and best use of property - Answer- legal use that gives the greatest return Principal of Contribution - Answer- cost does not equal value Residential Mortgage Lo...

Residential Market Analysis and Highest & Best Use Questions and Answers Already Passed The power of a given commodity to satisfy a need or want is called __________________. Utility The development of a vacant land area is _____________ the highest and best use of the land. Not Always The Consistent-Use Theory says the _______________ must all be valued considering the same highest and best use of the property Land and the Buildings ________________ involves subdividing the l...

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 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...

Indirect methods of measuring depreciation - Answer- -Sales comparison (Market Extraction) -Capitalization of income method Financing - Answer- The first adjustment in the sales comparison approach is Sales Comparison Approach - Answer- A fundamental strength in this approach is that it reflects the actions of the marketplace as well as what by buyers & sellers are actually doing doing and paying. -Consumer tastes/preferences -Consumer income -Price of related commodities -Consumer ...

Residential Market Analysis and Highest & Best Use Exam Questions and Answers Latest 2024/2025 | Graded A+. The development of a vacant land area is _____________ the highest and best use of the land. Correct Answer: Not Always The Consistent-Use Theory says the _______________ must all be valued considering the same highest and best use of the property Correct Answer: Land and the Buildings ________________ involves subdividing the larger market into a workable study area. Correct Answer:...

Residential Market Analysis and Highest & Best Use Rated A+ An analysis of the market conditions of supply, demand, and pricing for a specific property type in a specific area. (General) Market Study The study of how a specific property is expected to perform in a specific market. It expands on a market analysis by addressing a specific property. (Specific) Marketability Analysis The study of the supply and demand in a specific area for a specific type of property. Market Analysis ...

NYREI School Exam Questions and Answers Latest Version Graded A+ What is the minimum licensing requirement to sell commercial real estate in New York? a real estate salesperson's license What is the preferred method of creating an agency relationship? expressed agency An amenity purchaser occupies or uses the purchased property Condominium units are considered _____ property and are conveyed by _____. real / deed A salesperson who is an independent contractor is not subject to withholding r...

1. The real estate market is local in nature what does that mean? - correct answer Information about real estate can best be found through local sources, which makes the real estate market local in nature 2. You would expect a real estate licensee to perform all of the following activities, EXCEPT: A. Providing expert knowledge about construction methods and materials B. Providing expert knowledge to members of the public in the performance of specified services of real estate C. Followi...