APP_05 Instructor Materials3.pdf
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Real Estate Appraisal Instructor Materials Chapter 5 Quiz 'DWDDERXWVRFLDOHFRQRPLFDQGSROLWLFDOIDF- 7KHGLPHQVLRQVRIDVLWHLQFOXGH WRUVWKDWDIIHFWYDOXHDUH A. height $ UHJLRQDOD...
Real Estate Appraisal Instructor Materials Chapter 5 Quiz 'DWDDERXWVRFLDOHFRQRPLFDQGSROLWLFDOIDF- 7KHGLPHQVLRQVRIDVLWHLQFOXGH WRUVWKDWDIIHFWYDOXHDUH A. height $ UHJLRQDODQGFRPPXQLW\GDWD % HOHYDWLRQ % PDUNHWDQGQHLJKERUKRRGGDWD & IURQWDJH & VLWHGDWD ' SRVLWLRQ ' EXLOGLQJGDWD )RULUUHJXODUO\VKDSHGORWVPHDVXUHPHQWVRI $QH[DPSOHRILQIUDVWUXFWXUHZRXOGEH ZLGWKDQGGHSWK A. the foundation of a house A. use the widest and longest part of the site % LQWHULRU¿QLVKHVDQGWULP % DUHGHWHUPLQHGEDVHGRQVWUHHWIURQWDJH & WUDQVSRUWDWLRQQHWZRUNV & GRQRWLQFOXGHWKHVSDFHRFFXSLHGE\DQ\ ' DEXLOGLQJ¶VDLUFRQGLWLRQLQJV\VWHP buildings on the lot ' PD\EHVWDWHGDVDYHUDJHV 5HJLRQDODQGORFDOODZVDQGUHJXODWLRQVUHODWH WR ZKLFK DVSHFW RI UHJLRQDO DQG FRPPXQLW\ :KLFKRIWKHIROORZLQJZRXOG127EHFRQVLG- data? HUHGDVLWHLPSURYHPHQW" $ 3ROLWLFDOIDFWRUV $ 3DUNLQJVSDFH % (QYLURQPHQWDOIDFWRUV % 'LVWDQFHWRQHLJKERUKRRGVFKRRO & (FRQRPLFIDFWRUV & )HQFHV ' 6RFLDOIDFWRUV ' 8WLOLW\FRQQHFWLRQV 4. Sources of published information for regional 7KHSULPDU\VRXUFHIRUGDWDDERXWWKHVXEMHFW DQGFRPPXQLW\GDWDFRXOGLQFOXGHDOORIWKH SURSHUW\VLWHLV IROORZLQJH[FHSW A. building blueprints $ PXOWLSOHOLVWLQJVHUYLFHV % SXEOLFWD[UHFRUGV % WKHIHGHUDOJRYHUQPHQW & SHUVRQDOLQVSHFWLRQE\WKHDSSUDLVHU & GLUHFWREVHUYDWLRQE\WKHDSSUDLVHU ' SXEOLVKHGVRXUFHVRILQIRUPDWLRQ ' FRXQW\DQGFLW\JRYHUQPHQWDJHQFLHV 7KHQXPEHURIVWRULHVDUFKLWHFWXUDOVW\OHDQG ,IWKHVXEMHFWSURSHUW\FRPSHWHVZLWKSURSHUWLHV QXPEHURIXQLWVLQDEXLOGLQJDUH LQRWKHUQHLJKERUKRRGVWKHDSSUDLVHUPD\QHHG A. substructure data WR % JHQHUDOEXLOGLQJGDWD A. change the neighborhood boundaries to & HTXLSPHQWGDWD include more comparables ' LQWHULRUGDWD % PDNHDGMXVWPHQWVWRWKHYDOXHVRIFRPSD- rable properties to account for differences between neighborhoods & RUJDQL]HGDWDEDVHGRQFHQVXVWUDFWVLQVWHDG of neighborhoods ' FKRRVHFRPSDUDEOHSURSHUWLHVWKDWKDYHD GLIIHUHQWXVHIURPWKHVXEMHFWSURSHUW\ 8 Chapter 5: Data Collection and Analysis 7KHW\SHDQGFRQGLWLRQRIURRIVKRXOGEHQRWHG EHFDXVH $ URRIVDUHDOPRVWQHYHUUHSODFHGGXULQJWKH life of a building % URRILQJ PDWHULDOV KDYH OLWWOH LPSDFW RQ YDOXH & WKHFRVWRIUHSODFLQJDURRILVVXEVWDQWLDO ' %RWK$DQG& $SSOLDQFHVLQWKHEXLOGLQJDUH $ QHYHUFRQVLGHUHGSDUWRIWKHDSSUDLVDO % LQFOXGHGLQWKHDSSUDLVDORQO\IRUFRPPHU- FLDOSURSHUW\ & RIWHQFRQVLGHUHGLIWKH\DUHODUJHRUEXLOWLQ ' WUHDWHGDVSDUWRIWKHVLWHGDWD &RPSDUDEOHSURSHUWLHVVKRXOGEHDVVLPLODUDV SRVVLEOHWRWKHVXEMHFWSURSHUW\LQRUGHUWR $ DFFXUDWHO\ UHÀHFW WKH VXEMHFW SURSHUW\¶V YDOXH % UHSUHVHQW WKH NLQG RI SURSHUW\ WKDW WKH VXEMHFWSURSHUW\FRPSHWHVZLWKLQWKHUHDO estate market & PDNHLWHDVLHUWR¿QGFRPSDUDEOHSURSHUWLHV to use in the appraisal ' %RWK$DQG% 'DWD DERXW FRPSDUDEOH SURSHUWLHV FDQ FRPH IURP $ PXOWLSOHOLVWLQJVHUYLFHV % LQWHUYLHZVZLWKSDUWLHVWRDWUDQVDFWLRQ & ¿OHV RQ SUHYLRXV DSSUDLVDOV WKH DSSUDLVHU has conducted ' $OORIWKHDERYH %XLOGLQJFRVWHVWLPDWHVIRUUHVLGHQWLDODSSUDLV- DOVDUHRIWHQEDVHGRQ $ PXOWLSO\LQJJURVVOLYLQJDUHDE\DQDYHUDJH FRVWSHUVTXDUHIRRW % DGGLQJXSWKHUHSURGXFWLRQFRVWIRUH[WHULRU DQGLQWHULRU¿QLVKHV & DGMXVWLQJ WKH PRVW UHFHQW VDOHV SULFH IRU LQÀDWLRQ ' $OORIWKHDERYH 9 Real Estate Appraisal Instructor Materials Answer Key 1. A. General information about social, eco- & 0RVWSK\VLFDOVLWHGDWDDUHJHQHUDWHG nomic, and political forces that affect E\DSHUVRQDOLQVSHFWLRQRIWKHGLPHQ- SURSHUW\YDOXHVLVUHJLRQDODQGFRP- sions, location, and other features of PXQLW\GDWD the site. & ,QIUDVWUXFWXUHPHDQVSXEOLFLPSURYH- % 7KHEDVLFJHQHUDOLQIRUPDWLRQQHHGHG ments that support basic needs. DERXWDEXLOGLQJLQFOXGHVWKHVL]H ([DPSOHVLQFOXGHWUDQVSRUWDWLRQDQG number of units, number of stories, utilities such as power, water, and DQGDUFKLWHFWXUDOVW\OH sewage. & 0RVWURRIVUHTXLUHUHSODFHPHQWGXULQJ $ 5HJLRQDODQGORFDOODZVDQGUHJXOD- the life of the building at substantial tions are political factors that affect cost. The appraiser should consider the SURSHUW\YDOXHV HIIHFWWKDWWKHW\SHDQGFRQGLWLRQRIWKH URRIKDYHRQWKHSURSHUW\¶VYDOXH & $SSUDLVHUVUHO\RQPDQ\VRXUFHVIRU published information, including & )RUUHVLGHQWLDOSURSHUW\DSSOLDQFHV PXOWLSOHOLVWLQJVHUYLFHVDQGYDULRXV that are large or built in are often JRYHUQPHQWRUJDQL]DWLRQV+RZHYHU LQFOXGHGLQWKHDSSUDLVDO7KLVPD\ WKHDSSUDLVHU¶VSHUVRQDOREVHUYDWLRQV include items such as refrigerators, DUHE\GH¿QLWLRQQRWSXEOLVKHGLQIRU- GLVKZDVKHUVRYHQVUDQJHVDQGZDVK- mation. HUVDQGGU\HUV % ,IWKHPDUNHWDUHDIRUWKHVXEMHFWSURS- ' &RPSDUDEOHSURSHUWLHVUHSUHVHQWWKH HUW\LQFOXGHVRWKHUQHLJKERUKRRGVRU VXEMHFWSURSHUW\¶VFRPSHWLWLRQLQWKH GLVWULFWVLWPD\EHQHFHVVDU\WRPDNH PDUNHW,QRUGHUWRDFFXUDWHO\UHÀHFW DGMXVWPHQWVWRWKHYDOXHVRIFRPSD- WKHYDOXHRIWKHVXEMHFWSURSHUW\WKH\ rable properties during an appraisal. should be as similar as possible. & 6LWHGLPHQVLRQVLQFOXGHZLGWKGHSWK ' 6HFRQGDU\VRXUFHVVXFKDVPXOWLSOH and frontage. OLVWLQJVHUYLFHVSURYLGHPXFKRIWKH data on comparable properties, but ' 7KHZLGWKDQGGHSWKRILUUHJXODUO\ LQWHUYLHZVDQGWKHDSSUDLVHU¶V¿OHVFDQ VKDSHGORWVPD\EHVWDWHGDVDYHUDJHV also be excellent sources of compa- UDEOHSURSHUW\GDWD % 6LWHLPSURYHPHQWVDUHIHDWXUHVRIWKH VLWHWKDWFRQWULEXWHWRYDOXH'LVWDQFHV $ )RUPRVWUHVLGHQWLDODSSUDLVDOVEXLOG- to neighborhood amenities are not im- ing cost is estimated based on a simple SURYHPHQWVEXWWKH\DUHLPSRUWDQWVLWH FDOFXODWLRQXVLQJWKHDYHUDJHFRVWSHU data to collect. VTXDUHIRRWWREXLOGDKRXVHLQWKHDUHD 10
