Residential Market Analysis and Highest & Best Use

The power of a given commodity to satisfy a need or want is called __________________. - Answer-Utility The development of a vacant land area is _____________ the highest and best use of the land. - Answer-Not Always The Consistent-Use Theory says the _______________ must all be valued considering the same highest and best use of the property - Answer-Land and the Buildings ________________ involves subdividing the larger market into a workable study area. - Answer-Market Identification The ________________ Cycle of a neighborhood is characterized by demand and supply trending toward equilibrium. - Answer-Stability Eminent domain is the right of the government to take private property, for public good, with __________________. - Answer-Just Compensation The improvements are normally valued for their ___________ value relative to the highest and best use of the land. - Answer-Contributory The right of eminent domain may be exercised by these 3. - Answer-State government agencies Public service companies Local government The relationship between the supply and the demand for a site's particular highest and best use is a part of the analysis of ___________________ . - Answer-Financial Feasibility All of these are Governmental restrictions on land use EXCEPT ______________________. - Answer-Deed Restrictions Because of the Principle of _______________ the appraiser's opinion of value is always "as