After the appraiser has used all three appraisal approaches to estimate value, what
process is used to arrive at a final
estimate of value?
Give this one a try later!
A. data evaluation
B. summation
C. reconciliation
D. averaging
Market price is closest to the
Give this one a try later!
A. price asked by the seller in the open market.
B. price offered by a buyer in the open market.
C. market value.
, D. amount of money given in exchange for the property (value in
exchange).
The period of time that an improvement contributes value to the land is considered to
be its
Give this one a try later!
A. economic life.
B. highest and best use.
C. effective age.
D. salvage value.
An apartment complex rents as follows: Three 1BR at $350 per month; 15 2BR at $440
per month; three 2BR at $495
per month. You determine a 10% vacancy rate and 3% credit losses per year. The
annual property tax is $7,300; the
insurance is $2,100. The owner takes $6,500 per year in depreciation. An investment
broker suggests a 10 1/4%
capitalization rate. What is your estimate of value?
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A. $838,726
B. $814,561
C. $775,311
D. $881,186
Mr. Williams owned his home for 15 years. It originally had an estimated life of 40
years. He has maintained his home in
process is used to arrive at a final
estimate of value?
Give this one a try later!
A. data evaluation
B. summation
C. reconciliation
D. averaging
Market price is closest to the
Give this one a try later!
A. price asked by the seller in the open market.
B. price offered by a buyer in the open market.
C. market value.
, D. amount of money given in exchange for the property (value in
exchange).
The period of time that an improvement contributes value to the land is considered to
be its
Give this one a try later!
A. economic life.
B. highest and best use.
C. effective age.
D. salvage value.
An apartment complex rents as follows: Three 1BR at $350 per month; 15 2BR at $440
per month; three 2BR at $495
per month. You determine a 10% vacancy rate and 3% credit losses per year. The
annual property tax is $7,300; the
insurance is $2,100. The owner takes $6,500 per year in depreciation. An investment
broker suggests a 10 1/4%
capitalization rate. What is your estimate of value?
Give this one a try later!
A. $838,726
B. $814,561
C. $775,311
D. $881,186
Mr. Williams owned his home for 15 years. It originally had an estimated life of 40
years. He has maintained his home in
