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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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RESIDENTIAL MARKET ANALYSIS ANDHIGHEST & 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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