Podcast
Questions and Answers
The reproduction cost of a building is the cost of building an exact replica.
The reproduction cost of a building is the cost of building an exact replica.
True
An appraiser should make adjustments for inflation or deflation when using a comparable that sold in a market with flat prices.
An appraiser should make adjustments for inflation or deflation when using a comparable that sold in a market with flat prices.
True
Wear and tear that reduces the value of a property is considered to be functional deterioration.
Wear and tear that reduces the value of a property is considered to be functional deterioration.
False
If an appraiser finds that it would cost $380,000 to construct an exact replica of the subject property, this is an example of replacement cost.
If an appraiser finds that it would cost $380,000 to construct an exact replica of the subject property, this is an example of replacement cost.
Signup and view all the answers
The gross income multiplier method is used primarily for appraising owner-occupied residences.
The gross income multiplier method is used primarily for appraising owner-occupied residences.
Signup and view all the answers
Peeling paint and warped siding on an older house are examples of physical deterioration in appraisal.
Peeling paint and warped siding on an older house are examples of physical deterioration in appraisal.
Signup and view all the answers
An appraiser multiplies the subject property's rent by the gross rent multiplier to find its value.
An appraiser multiplies the subject property's rent by the gross rent multiplier to find its value.
Signup and view all the answers
The gross income multiplier method is primarily appropriate when valuing a single-family residence used as a rental.
The gross income multiplier method is primarily appropriate when valuing a single-family residence used as a rental.
Signup and view all the answers
The process of analyzing value indicators from various appraisal methods to arrive at a final value estimate is known as interpolation.
The process of analyzing value indicators from various appraisal methods to arrive at a final value estimate is known as interpolation.
Signup and view all the answers
The square foot method is a method commonly used in valuing properties.
The square foot method is a method commonly used in valuing properties.
Signup and view all the answers
