REE 4103 Real Estate Exam 2-Quiz Questions and Answers

Real Estate Exam 2 1. If the site represents 40% of the total value in a particular neighborhood, how much land value would be allocated from a $200,000 sale of a single family home? 2. In the subject property’s neighborhood, improved properties are selling for prices in a range of $140,000 to $160, 000. Research reveals a typical land value-to-total property value ratio of 20%. What is the range of value for a similar site in this neighborhood? 3. Land can be valued by 4. Land is always valued considering 5. Price per front foot is 6. Residential sites are often valued using 7. The subdivision development analysis technique is 8. To estimate its market value, the land under an improved property is best compared to sales of vacant land that 9. You are asked to appraise a vacant building lot. The neighborhood is about 75% built up. Most lots in the area are from 55 to 65 feet wide; the lot under appraisal is 60 feet. Comparable sales indicate that lots are selling at $120 to $150 per front foot. What is a good estimate of the price range for this lot? 10. The land valuation technique that relies on an analysis of ratios of land value to property value is Chapter 18 1. Which approach would be best to use when appraising a 15-20 year old house? 2. An open market transaction would not be one: 3. Comparable sales that require no adjustment to the subject are usually sales: 4. The principle of _____________ states that a buyer will not pay more for a site than for another equally desirable one: