Real Estate Appraisal
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Real Estate Appraisal
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25 Questions

1. Public improvements that support basic needs - such as transportation and utilities.

2. An entity pursuing an economic activity

3. The value of a component is equal to the amount of value it adds to the property as a whole.

4. Identifiable tangible objects that are considered by the general public as being "personal".

5. When zoning laws allow the continuation of existing uses that have become nonconforming due to change in zoning regulation.

6. Cost Approach - Sales Comps - Income Approach (IRV)

7. That which is contrary to what exists but is supposed for the purpose of analysis.

8. That which is taken to be true

9. 5 - 280 feet

10. When supply and demand are out of balance. Too much competition

11. The value is affected by the expectations of buyers regarding the future benefits to be gained.

12. 640 acres.

13. Valuation services performed by an individual acting as an appraiser - including but not limited to appraisal - appraisal review - or appraisal consulting.

14. Production is maximized when Capital - Land - Labor and Management (Agents of Production) are in balance.

15. Land that is not needed for the highest and best use of the site

16. The type and extent of research and analyses in an assignment.

17. Highest and Best Use - Consistent Use - Conformity - Progression & Regression

18. Value based on sale within a relatively short period of time.

19. Worthy of belief

20. The process of valuing a universe of properties as of a given date using standard methodology - employing common data and allowing for statistical testing.

21. Person that receives property.

22. Value determination based on sales of similar properties.

23. A mathematical expression of how supply and demand factors interact in a market.

24. Economic Concept. The price of a good rises and falls depending on how many people want it (demand) and depending on how much of the good is available (supply).

25. A former item of personal property which has become part o the realty.

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