Functional obsolescence - Study guides, Class notes & Summaries

Champions School Principles of Real Estate II Latest Update Graded A+ Appraisal An Appraiser's opinion of value Principle of conformity Suggests that value is maximized when there is reasonable degree of homogeneity, or sameness, in a neighborhood USPAP Uniform Standards of Professional Appraisal Practice Uniform Standards of Professional Appraisal Practice Standards that have been established by the Appraisal Standards Board of the Appraisal Foundation Ad Valorem According to...

DC Property Management License Certification Questions and Answers 2024 The primary responsibility of a real estate property manager is to - CORRECT ANSWER-understand and implement the owner's goals and objectives If an apartment building has 20 one bedroom units which rent for $800 per month and 30 two bedroom apartments which rent for $1500 per month, what is the Gross Potential Rental Income per month? - CORRECT ANSWER-Gross Potential Rental Income per month calculation ($800 x...

Principles of Real Estate 2 (TEXAS) Exam With 100% Correct Answers 2024 The approach used as the best indicator of value for existing properties. a. functional obsolescence b. sales comparison c. highest and best use d. market value e. external obsolescence - answerB Refers to the loss in desirability of the style, layout, or function of an element of a property over time. a. functional obsolescence b. sales comparison c. highest and best use d. market value e. external obsolescenc...

eal property is - Answer-comprised of buildings, structures and fixtures that are tangible. Real property can be seen. Give examples of Real Property - Answer-Land is real property, but it is generally not the subject of insurance. Buildings are real property. They have walls and a roof. You can probably envision many types of buildings, ranging from a small one-story office to a skyscraper. Structures. A structure is any construction, including buildings. However, examples of structures t...

The real estate exam consists of 110 questions, 80 on the national portion of the test and 30 on the Texas portion of the test. A. True B. False - ANSWER A. True The difference between the market value of a property and the sum of the liens against it is called: A. the equity B. due on sale C. the assessment D. the loan-to-value ratio - ANSWER A. the equity Which of the following are public restrictions on the use of real property? A. zoning laws B. condominium byla...

PSI Maryland Practice Exam Questions and Answers Already Passed If an older building cannot be air-conditioned, it is an example of ___________ ? A. Economic obsolescence. B. Functional obsolescence. C. Physical deterioration. D. External deterioration B. Functional obsolescence. An appraiser MUST be licensed or certified to handle Federally related work on residential property valued at more than ___________? A. $100,000. B. $250,000. C. $500,000. D. $1,000,000. B. $250,...

DC Property Management Exam Latest Update Graded A+ Management Plan 1. Current use 2. Current condition 3. Fiscal projections 4. Operational issues Market Analysis Regional and neighborhood evaluation focusing on: 1. Demographic conditions 2. Geographic features 3. Governmental perspective 4. Existing real estate supply 5. Future developments 6. Tenant demand Analysis of Alternatives Theoretical costs and potential for rent increase based on decision to: 1. Modernize 2....

Principles of Real Estate 2 (TEXAS) Exam With 100% Correct Answers 2024 The approach used as the best indicator of value for existing properties. a. functional obsolescence b. sales comparison c. highest and best use d. market value e. external obsolescence - answerB Refers to the loss in desirability of the style, layout, or function of an element of a property over time. a. functional obsolescence b. sales comparison c. highest and best use d. market value e. external obsolescenc...

Which would NOT be used in the capitalization approach? A. gross income B. operating expenses C. reproduction cost D. allowance for vacancy - ANSWER C. reproduction cost A property had a land value of $40,000, a 2,000 square feet structure with a rebuilding cost of $70 per square foot, depreciation of $5,000 due to functional obsolescence and $1,500 due to physical depreciation. What would be the estimate of value for this property using the cost approach? A. $133,500 B. $140,000 C...

PSI Maryland Practice Exam (National Real Estate Salesperson) 80 Q&A/ . Terms like: Under the common law of agency, licensees owe the broker with whom they are associated all of the following duties EXCEPT _________? A. Loyalty. B. Competence. C. Indemnification. D. Full disclosure. - Answer: C. Indemnification. If an older building cannot be air-conditioned, it is an example of ___________ ? A. Economic obsolescence. B. Functional obsolescence. C. Physical deterioration. D. Exter...