COURSE 101 CHAPT 4

Play an AI-generated podcast conversation about this lesson

The Principle of ___________ holds that the value of a property tends to be set by the price that would be paid to acquire a property of similar utility and desirability within a reasonable amount of time.

Contribution

Balance

Anticipation

Substitution (correct)

The Principle of ___________ is the underlying principle in the adjustment process in the sales comparison approach.

Contribution

Substitution (correct)

Change

Anticipation

A major principle in the sales comparison approach holds that the relationship between a property and its environment must be in __________ for a property to reflect its optimum market value.

Balance (correct)

Harmony

Equilibrium

Synchrony

A major advantage of the sales comparison approach is that it reflects the actions of and in the market.

Buyers, sellers Signup and view all the answers

A unit of comparison that would be applicable to single-family residential property is the or .

Price per square foot of gross living area, total property price Signup and view all the answers

A unit of comparison that would be applicable to agricultural farmland or larger rural residential tracts would be the __________.

Price per acre Signup and view all the answers

List the order of adjustments in the sales comparison approach.

Financing, Market conditions (time of sale), Location and other physical characteristics Signup and view all the answers

Which method of determining adjustments in the sales comparison approach cannot be used to determine market conditions (changes in value over time)?

Depreciated cost Signup and view all the answers

A cardinal rule in the sales comparison approach holds that all adjustments are made to the ______ property, and never to the _.

Comparable, subject Signup and view all the answers

The Principle of __________ states that market value is never constant because physical (environmental), governmental, social, and economic forces are at work, affecting the property

Change Signup and view all the answers

When the four forces—environmental, governmental, social, and economic—are in balance, the market achieves a temporary state of __________.

Equilibrium Signup and view all the answers

__________ analysis, which is used primarily in single-property appraisal, requires the sale properties to be identical in all attributes except the one being measured (or adjustments have already been made for any differences).

Paired sales Signup and view all the answers

The sales comparison approach usually can/cannot be used to value special-purpose or one-of-a-kind properties.

Cannot Signup and view all the answers

In the sales comparison approach, step two is data collection and verification. This requires the appraiser to collect and verify general, __________, and comparative data.

Specific Signup and view all the answers

The unit of comparison that is generally used in valuing office properties is the __________.

Price per square foot of net rentable area Signup and view all the answers

Price per animal unit might be the appropriate unit to use in the valuation of __________.

Agricultural pastureland Signup and view all the answers

COURSE 101 CHAPT 4

Podcast Beta

Questions and Answers

The Principle of ___________ holds that the value of a property tends to be set by the price that would be paid to acquire a property of similar utility and desirability within a reasonable amount of time.

The Principle of ___________ is the underlying principle in the adjustment process in the sales comparison approach.

A major principle in the sales comparison approach holds that the relationship between a property and its environment must be in __________ for a property to reflect its optimum market value.

A major advantage of the sales comparison approach is that it reflects the actions of and in the market.

A unit of comparison that would be applicable to single-family residential property is the or .

A unit of comparison that would be applicable to agricultural farmland or larger rural residential tracts would be the __________.

List the order of adjustments in the sales comparison approach.

Which method of determining adjustments in the sales comparison approach cannot be used to determine market conditions (changes in value over time)?

A cardinal rule in the sales comparison approach holds that all adjustments are made to the ______ property, and never to the _.

The Principle of __________ states that market value is never constant because physical (environmental), governmental, social, and economic forces are at work, affecting the property

When the four forces—environmental, governmental, social, and economic—are in balance, the market achieves a temporary state of __________.

__________ analysis, which is used primarily in single-property appraisal, requires the sale properties to be identical in all attributes except the one being measured (or adjustments have already been made for any differences).

The sales comparison approach usually can/cannot be used to value special-purpose or one-of-a-kind properties.

In the sales comparison approach, step two is data collection and verification. This requires the appraiser to collect and verify general, __________, and comparative data.

The unit of comparison that is generally used in valuing office properties is the __________.

Price per animal unit might be the appropriate unit to use in the valuation of __________.

More Like This

Principles of Real Estate II Quiz & Flashcards

Principles of Real Estate II Flashcards

Real Estate Principles Quiz 4: Chapters 13-17

Introduction to Appraisal Basics

Upgrade to continue

COURSE 101 CHAPT 4

Podcast Beta

Questions and Answers

The Principle of ___________ holds that the value of a property tends to be set by the price that would be paid to acquire a property of similar utility and desirability within a reasonable amount of time.

The Principle of ___________ is the underlying principle in the adjustment process in the sales comparison approach.

A major principle in the sales comparison approach holds that the relationship between a property and its environment must be in __________ for a property to reflect its optimum market value.

A major advantage of the sales comparison approach is that it reflects the actions of __________ and __________ in the market.

A unit of comparison that would be applicable to single-family residential property is the __________ or __________.

A unit of comparison that would be applicable to agricultural farmland or larger rural residential tracts would be the __________.

List the order of adjustments in the sales comparison approach.

Which method of determining adjustments in the sales comparison approach cannot be used to determine market conditions (changes in value over time)?

A cardinal rule in the sales comparison approach holds that all adjustments are made to the ________________________ property, and never to the ___________________.

The Principle of __________ states that market value is never constant because physical (environmental), governmental, social, and economic forces are at work, affecting the property

When the four forces—environmental, governmental, social, and economic—are in balance, the market achieves a temporary state of __________.

__________ analysis, which is used primarily in single-property appraisal, requires the sale properties to be identical in all attributes except the one being measured (or adjustments have already been made for any differences).

The sales comparison approach usually can/cannot be used to value special-purpose or one-of-a-kind properties.

In the sales comparison approach, step two is data collection and verification. This requires the appraiser to collect and verify general, __________, and comparative data.

The unit of comparison that is generally used in valuing office properties is the __________.

Price per animal unit might be the appropriate unit to use in the valuation of __________.

More Like This

Principles of Real Estate II Quiz & Flashcards

Principles of Real Estate II Flashcards

Real Estate Principles Quiz 4: Chapters 13-17

Introduction to Appraisal Basics

A major advantage of the sales comparison approach is that it reflects the actions of and in the market.

A unit of comparison that would be applicable to single-family residential property is the or .

A cardinal rule in the sales comparison approach holds that all adjustments are made to the ______ property, and never to the _.