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RESIDENTIAL MARKET ANALYSIS AND HIGHEST & BEST USE FINAL EXAM. $7.99   Add to cart

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RESIDENTIAL MARKET ANALYSIS AND HIGHEST & BEST USE FINAL EXAM.

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RESIDENTIAL MARKET ANALYSIS AND HIGHEST & BEST USE FINAL EXAM.

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  • May 18, 2024
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  • 2023/2024
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RESIDENTIAL MARKET ANALYSIS AND
HIGHEST & BEST USE FINAL EXAM
The appraiser must perform the necessary market analysis to obtain enough
information to ___________________________.

Complete the Sales Comparison Approach

Fill out the URAR

Make the highest and best use determination for the subject property.

Educate the client

Make the highest and best use determination for the subject property.


A property with restaurants and retail shops on the lower level and apartments on
levels above is called a(n) ___________ property.

Alternate-use

Multi-Use

Conclomerate

Cooperative

Multi-Use

When the land value is subtracted from the sales price, the
_______________________ is identified.

Effective age of the improvements

Depreciated value of the improvement

,Remaining economic life

Age/Life Ratio

Depreciated value of the improvement


The ability of market participants to purchase a property is called
_________________________________.

Economic Purchasing Power

Effective purchasing power

Mortgage ability

Loan-to-Value Ratio

Effective purchasing power


_______________ Value is the price a property will sell for, if required to be sold
very quickly.

Liquidation

Sheriff's Sale

Liquid

Foreclosure

Liquidation

,Part of the definition of Highest and Best Use is that it is the use that “results in
the __________ value.”

Typical

Highest

Forecasted

Average

Highest


When improvements are added, such as roads, water and sewer; then
_________ becomes _____________.

Site, land

Land, a site

Land, a tract

Site, a development

Land, a site


The Principle of Substitution holds that an ___________ buyer will not spend
more for a property than the cost of acquiring a suitable substitute property.
Principle of Substitution.

Informed

Typical

Motivated

, Disinterested

Informed


Another name for Assessed Value is ______________ Value.

Insurance

Investment

Market

Ad Valorem

Ad Valorem


What is the first step in a feasibility analysis?

Delineate the neighborhood

Project future economic growth

Survey the market

A visual inspection of the subject property

Survey the market


Inferred analysis is principally performed using ____________data, while
Fundamental analysis relies primarily on _____________ data.

Primary, General

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