AceableAgent Real Estate Principals 2.pdf file:///C:/Users/HP/Desktop/NIW/AceableAgent%20Real%20Estate%
Aceable Agent Real Estate Principals 2
1. Is information about a property's location.This could include the city, region, and
neighborhood in which the poperty uis situated.
ANS General Data
2. Is information regarding the property itself.
ANS Specific Data
3. The idea that the present value of a property is affected by the ANTICIPATED income or
utility that property will give its property owner.
ANS Principle if Antici- pation
4. The idea that a property's overall value is made up of the combined value of each of its
parts. But the CONTRIBUTORY value of an item is not always equal to the price of that
item.
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ANS Principle of Contribution
5. States that the value of something is affected by the cost of getting a similar (substitute)
item elsewhere.
ANS Principle of Substitution
6. Reminds us that the the condition of a property, the desirability of its location, and
the market in which it exists can always change, which could affect the value of the
property.
ANS Principle of Change
7. States that when supply is low and demand is high, prices will increase. And if supply
is plentiful and demand is low? Prices will then drop.
ANS Principles of Supply and Demand
8. Claims that maximum value is realized when land use is in harmony with
surrounding standards.
ANS Principle of Conformity
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9. States that the presence of higher value or lower homes near the subject property
can change its value.
ANS Principles of Regression and Progression
10. Is a acronym to help us remember the four characteristics that make real estate
valuable
Demand, Utility, Scarcity and Transferability.
ANS DUST
11. If there are multiple buyers interested in a property, the property with increase
in value.
ANS Demand
12. Properties need to be useful or serve some kind of purpose in order to have value to a
buyer. An empty lot, for example, may not look like it has much utility, but to a buyer who
wants to build a custom home in that area, it's quite useful.
ANS Utility
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13. If the amount of housing in an area is low in supply, it grows in value.
ANS -
Scarcity
14. Whether it's government rules or a title issue, anything that limits the
transferability of real estate makes it less valuable.
ANS Transferability
15. A REPORT from a licensed appraiser that's sums up a property's market value based
on collected data. The lender usually asks for this during the mortgage origination
process.*
ANS Appraisal Report
16. The appraisal report is usually paid by...
ANS The Buyer
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