Podcast
Questions and Answers
What adjustment is typically required for comparables in markets with rapidly changing prices?
What adjustment is typically required for comparables in markets with rapidly changing prices?
- Inflationary adjustment (correct)
- No adjustment needed
- Historical adjustment
- Deflationary adjustment
What does the reproduction cost of a building refer to?
What does the reproduction cost of a building refer to?
- The cost of building an exact replica (correct)
- The cost of property maintenance
- The current market value of the building
- The cost of building improvements with equivalent utility
What is considered wear and tear that reduces the value of a property?
What is considered wear and tear that reduces the value of a property?
- Functional obsolescence
- Curable deterioration
- Physical deterioration (correct)
- Deferred maintenance
When is deterioration considered curable according to the text?
When is deterioration considered curable according to the text?
What does the process of reconciliation allow an appraiser to do?
What does the process of reconciliation allow an appraiser to do?
Which of the following is NOT a step a real estate agent can take to help avoid a low appraisal?
Which of the following is NOT a step a real estate agent can take to help avoid a low appraisal?
What type of cost is it when an appraiser finds that it would cost $380,000 to construct an exact replica of the subject property?
What type of cost is it when an appraiser finds that it would cost $380,000 to construct an exact replica of the subject property?
What is an example of physical deterioration in a property?
What is an example of physical deterioration in a property?
When should an appraiser make adjustments for inflation or deflation while using comparables?
When should an appraiser make adjustments for inflation or deflation while using comparables?
What is the main focus of most appraisers when evaluating a property's value?
What is the main focus of most appraisers when evaluating a property's value?
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