REAL 4000 uga test 3; Questions & Answers 100% Solved
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Course
REAL 4000 UGA
Institution
REAL 4000 UGA
REAL 4000 uga test 3; Questions & Answers
100% Solved
Real estate appraisals Correct answer-Formal estimates of the value of a piece of land.
Most are generated by lenders.
Also generated by courts and buyers/sellers.
Market value Correct answer-The most probable selling price of a property ...
REAL 4000 uga test 3; Questions & Answers
100% Solved
Real estate appraisals Correct answer-Formal estimates of the value of a piece of land.
Most are generated by lenders.
Also generated by courts and buyers/sellers.
Market value Correct answer-The most probable selling price of a property under normal
market conditions.
Investment value Correct answer-The value of the property to a particular investor.
Market value and investment value are both...? Correct answer-Concepts. Meaning we
never know what they truly are
Transaction prices Correct answer-The amount actually payed for a piece of property in a
completed transaction.
Market analysis Correct answer-Goal is to understand local supply and demand and their
impact on future prices.
Highest and best use Correct answer-the highest and best use of a property is found to
be:
, REAL 4000 uga test 3; Questions & Answers
100% Solved
Legally permissible
Physically possible
Financially feasible
maximally productive (the use that adds the most value)
It also ignores existing improvements and takes into account the cost of converting the land to a
new use.
Three valuation methods Correct answer-The sales comparison approach
The cost approach
and the income approach
you take the weighted average of the indicated values that come from all three approaches to
get a single estimate of the properties value.
Sales comparison approach Correct answer-Underlying concept is that the value of a
piece of real estate can be determined by analyzing the sale price of similar properties.
Elements of comparison Correct answer-The key determinants of value
Location
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