Exam (elaborations)
REE 4103 Unit 3.
Exam of 6 pages for the course REE 4103 at REE 4103 (REE 4103 Unit 3.)
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REE 4103 Unit 3A district is:
a. An area where city attorneys reside
b. An area within a neighborhood where all the propeties are vacant
c. The delineation of zoning classifications
d. A type of neighborhood that is characterized by homogeneous land use - ANS-a. a
type of neighborhood that is characterized by homogeneous land use
A trade area is:
a. An area where an office building owner will trade tenants with other office building
owners
b. An area where the owners-inhabitants are generally employed
c. A geographic area from which a retail center will draw its customers
d. An area where property owners trade rather than sell the properties - ANS-c. a
geographic area from which a retail center will draw its customers
Demand for housing is affected when:
a. The builders do not recognize a downturn in the market
b. Zoning laws restrict new construction to the point that not enough homes are built
c. A new factory opens and several hundred new employees are hired
d. Builders cannot find enough building materials to complete the job - ANS-c. a new
factory opens and several hundred employees are hired
Gentrification is:
a. A part of the life cycle of a market area in which property values are stable and
maintenance levels are adequate.
b. A process in which older homes in a neighborhood are remodeled and different
residents replace the lower-income residents
c. A class of citizens whho live in blighted areas
d. A group of complementary land uses - ANS-b. a process in which older homes in a
neighborhood are remolded and different residents replace the lower-income residents
Governmental influences include all of the following except:
, a. Tax burdens
b. Zoning, building, and housing codes
c. Special assessments
d. Changes in property use - ANS-d. changes in property use
If a real estate development happens to go bankrupt, who would get money back first
from liquidation?
a. Equity financiers
b. Consultants to the project
c. Debt financiers
d. Developers - ANS-c. debt financiers
Improvement cost date can be obtained from all of the following except:
a. US Treasury
b. Sales of new homes
c. Marshall & Swift and other cost services
d. Builders - ANS-a. US treasury
In analyzing macro-level data, appraisers observe the operation of appraisal principles
by studying the interaction of the four forces that affect an area's property values. What
are the four forces?
a. Social, economic, governmental, and environmental
b. Social, fiscal, governmental, and people
c. Social, macro, micro, and environmental
d. Social, economic, fiscal, and governmental - ANS-a. social, economic, governmental,
and environmental
In appraisals this data is used to determine highest and best use and to make the
specific comparisons and anaylses required to develop an opinion of value:
a. Standardized appraisal data
b. Macro-level data
c. Forged-economic data
d. Micro-level data - ANS-d. micro-level data
In appraisals this type of data about a subject property provided in land and building
descriptions helps the appraiser select the appropriate data pertaining to comparable
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