Podcast
Questions and Answers
What does it mean when no two parcels can occupy the same space on the face of the earth?
What does it mean when no two parcels can occupy the same space on the face of the earth?
What factor does not directly influence the value of real property?
What factor does not directly influence the value of real property?
Which term best defines the amount of money used to compensate the seller in a real estate transaction?
Which term best defines the amount of money used to compensate the seller in a real estate transaction?
What is referred to as a cash-equivalent price in real estate?
What is referred to as a cash-equivalent price in real estate?
Signup and view all the answers
Which statement is incorrect regarding the supply of one-unit residential properties?
Which statement is incorrect regarding the supply of one-unit residential properties?
Signup and view all the answers
What economic factor is likely to increase the supply of residential properties?
What economic factor is likely to increase the supply of residential properties?
Signup and view all the answers
Which of the following describes a potential consequence of changes in local building codes?
Which of the following describes a potential consequence of changes in local building codes?
Signup and view all the answers
How does police power relate to real estate?
How does police power relate to real estate?
Signup and view all the answers
If a fire station appraised at $2.5 million aligns with the market value, what does it represent?
If a fire station appraised at $2.5 million aligns with the market value, what does it represent?
Signup and view all the answers
What is investment value best defined as?
What is investment value best defined as?
Signup and view all the answers
What statement best describes market value?
What statement best describes market value?
Signup and view all the answers
Which of the following best characterizes market capitalization rate?
Which of the following best characterizes market capitalization rate?
Signup and view all the answers
If the market capitalization rate is 10% and Dennis's overall capitalization rate is 12%, what can we infer?
If the market capitalization rate is 10% and Dennis's overall capitalization rate is 12%, what can we infer?
Signup and view all the answers
Which of these is NOT a factor that influences market value?
Which of these is NOT a factor that influences market value?
Signup and view all the answers
Which type of value relies heavily on a property's use in economic terms?
Which type of value relies heavily on a property's use in economic terms?
Signup and view all the answers
How are similar-sized commercial buildings appraised in terms of market value?
How are similar-sized commercial buildings appraised in terms of market value?
Signup and view all the answers
What does PITI stand for in mortgage calculations?
What does PITI stand for in mortgage calculations?
Signup and view all the answers
Which of the following best describes macro-level data?
Which of the following best describes macro-level data?
Signup and view all the answers
Which type of household description includes all persons, related or unrelated, occupying a housing unit?
Which type of household description includes all persons, related or unrelated, occupying a housing unit?
Signup and view all the answers
For mortgage approval, what should be considered when comparing buyers’ income?
For mortgage approval, what should be considered when comparing buyers’ income?
Signup and view all the answers
Which factor is significant for a property to be valued over $100,000 in the market?
Which factor is significant for a property to be valued over $100,000 in the market?
Signup and view all the answers
What is NOT included in any calculation or consideration in the mortgage approval process?
What is NOT included in any calculation or consideration in the mortgage approval process?
Signup and view all the answers
How is household data best categorized in appraisal contexts?
How is household data best categorized in appraisal contexts?
Signup and view all the answers
If a new factory opens and hires several hundred new employees, how does this impact property valuation?
If a new factory opens and hires several hundred new employees, how does this impact property valuation?
Signup and view all the answers
What is the mortgage amount after putting down 20% on a one-unit home priced at $200,000?
What is the mortgage amount after putting down 20% on a one-unit home priced at $200,000?
Signup and view all the answers
How much do the points cost when purchasing a one-unit home for $200,000 with a 25% down payment and a charge of three points?
How much do the points cost when purchasing a one-unit home for $200,000 with a 25% down payment and a charge of three points?
Signup and view all the answers
What is the equity you have if your first mortgage is $150,000 and your second mortgage is $70,000 on a property valued at $200,000?
What is the equity you have if your first mortgage is $150,000 and your second mortgage is $70,000 on a property valued at $200,000?
Signup and view all the answers
Which institution has historically dominated the secondary mortgage market?
Which institution has historically dominated the secondary mortgage market?
Signup and view all the answers
What is the primary purpose of a mortgage document?
What is the primary purpose of a mortgage document?
Signup and view all the answers
If a mortgage has a 5% annual interest rate with quarterly payments, what would the effective interest rate be?
If a mortgage has a 5% annual interest rate with quarterly payments, what would the effective interest rate be?
Signup and view all the answers
What does the secondary mortgage market encompass?
What does the secondary mortgage market encompass?
Signup and view all the answers
Which of the following is NOT a feature of a mortgage?
Which of the following is NOT a feature of a mortgage?
Signup and view all the answers
Which of the following is considered a type of neighborhood characterized by one predominant land use?
Which of the following is considered a type of neighborhood characterized by one predominant land use?
Signup and view all the answers
What term describes the various complementary land uses found in a region?
What term describes the various complementary land uses found in a region?
Signup and view all the answers
Which factor is NOT typically considered when assessing changes in property use?
Which factor is NOT typically considered when assessing changes in property use?
Signup and view all the answers
In real estate appraisal, which of the following can indicate signs of neighborhood decline?
In real estate appraisal, which of the following can indicate signs of neighborhood decline?
Signup and view all the answers
Which type of area is defined as the geographic location from which a retail center draws its customers?
Which type of area is defined as the geographic location from which a retail center draws its customers?
Signup and view all the answers
Which of the following best describes construction cost increases?
Which of the following best describes construction cost increases?
Signup and view all the answers
What is the term used for the ongoing process of areas experiencing revitalization?
What is the term used for the ongoing process of areas experiencing revitalization?
Signup and view all the answers
Which would NOT indicate a stable neighborhood?
Which would NOT indicate a stable neighborhood?
Signup and view all the answers