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Narrative report exam with correct answers
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Narrative report exam with correct answers
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Narrative report exam with correctanswers
Introduction - Answers -Title page, transmittal letter, table of content, certification of
value, summary of important facts and conclusions.
Premises of appraisal - Answers -Identification of the subj property, scope of work,
definitions of value and property rights appraised, effective date of the appraisal,
assumptions and limited conditions
Presentation of the data - Answers -Region and City; market area; neighborhood;
subject's site, improvements, zoning,legal description, taxes history
Analysis of data and conclusions - Answers -Conclusions to market area and
neighborhood analysis;HBU analysis; cost, site and sales comp approaches; Reconcile
and opinion of value.
Integration - Answers -HBU;Site valuation; Cost approach; Sales comparison aspproach
Deductive organization - Answers -topic than support(follow main idea(topic sentence)
with details that support it)
Inductive organization - Answers -details present first and then draws a conclusion from
them.
4 forces of influence to RE value - Answers -Social,economic, environmental,
government
Summary - Answers -Repeats facts and ideas previously presented; does not interprets
facts and ideas; present unsupported opinion
Conclusion - Answers -Interpret and synthesizes the previously presented information;
presents opinion and forecast based on that information; relates facts and ideas to the
major topic of discussion.
Market area and neighborhood analysis conclusion - Answers -supply and demand in
the market area and the neighborhood; supply and demand for properties like the subj;
trends that affect subj prop and its value(i.e. demand for subj type properties);
housing characteristics that buyers are looking for in the neighborhood(ideal
improvement), elements to be adjusted for in comp sales, listings and rental analysis,
and depreciation in cost approach; effect of market area and neighborhood
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