REE 4103 Exam 2 Questions with Complete Solutions

If the site represents 40% of the total value in a particular neighborhood, how much land value would be allocated from a $200,000 sale of a single family home? Correct Answer-$80,000 In the subject property's neighborhood, improved properties are selling for prices in a range of $140,000 to $160,000. Research reveals a typical land value to total property value ratio of 20%. What is the range of value for a similar site in this neighborhood? Correct Answer-$28,000 - $32,000 Land can be valued by Correct Answer-Sales comparison, land residual, allocation, and extraction Land is always valued considering Correct Answer-Its highest and best use as though vacant Price per front foot is Correct Answer-A physical unit of comparison Residential sites are often valued using Correct Answer-A price per square foot The subdivision development analysis technique is Correct Answer-Very applicable when the main criteria of value is the number of lots that can be developed out of a parcel of land To estimate its market value, the land unde