Amenity - Study guides, Class notes & Summaries

What is the minimum licensing requirement to sell commercial real estate in New York? - ANSWER a real estate salesperson's license What is the preferred method of creating an agency relationship? - ANSWER expressed agency An amenity purchaser - ANSWER occupies or uses the purchased property Condominium units are considered _____ property and are conveyed by _____. - ANSWER real / deed A salesperson who is an independent contractor - ANSWER is not subject to withholding requirements.

WGU D199 EXAM QUESTIONS WITH COMPLETE SOLUTIONS/VERIFIED ANSWERS How did the peace of Westphalia reinvent the global political landscape? - Correct Answer it introduced the concept of sovereign nation states that had the right to order their own affairs Which statement explains one ecological impact of global population growth? - Correct Answer overuse results in a scarcity of available natural resources Why is spatial data considered so valuable? - Correct Answer The ability to track loc...

Mr. E purchased property for $150,000 (Improvement 80%: Land Ratio 20%). If he used the straight-line method of depreciation with 35 years remaining life, what would be the adjusted basis of the property after 10 years? a. $85,408 b. $106,760 c. $110,204 d. $115,714 - D - $150,000 - 20% = 150,000 - 30,000 = $120,000 improvement value. $120,000 ÷ 35 years = $3,428.57 x 10 years = $34,285.71 accrued depreciation. Adjusted Basis (10 yrs later) = $150,000 - $34,286 = $115,714. Which of the fol...

Amenity - correct answer Anything that adds to a person's comfort or convenience. Amenity zone - correct answer A designated area, adjacent or connected to an accessible route, that provides amenities and services (e.g., street furniture, mailboxes, telephones) and can include utilities such as light posts, hydrants, etc. Area of Refuge - correct answer An area separate from the general floor area by a fire separation having a fire-resistance rating at least equal to that required...

A property owner constructs a six-car garage at a cost of $80,000. It only adds $40,000 in value to the property. What economic principle does this best demonstrate? Contribution What are the four agents of production? land, labor, capital, coordination The principle of contribution is most closely associated with: the Sales Comparison Approach (The contributory value of a given amenity is the public's perception of its actual contribution to value when considering the overall value of th...

Amenity Something conducive to comfort, convenience, or enjoyment. Demographic The statistical characteristics of human populations (as in age or income) used especially to identify markets. fervent Exhibiting or marked by great intensity of feeling. Harmonious Marked by accord in sentiment or action; having the parts agreeably related. Incidental disclosure A secondary use or disclosure that cannot reasonably be prevented, is limited in nature, and occurs as a result of another use ...

(Answered) PSI Real Estate Exam - Valuation and Market Analysis Amenity A tangible or intangible feature that enhances and adds value to real estate. Arm's Length Transaction A transaction that occurred under typical conditions in the marketplace where each of the parties were acting in their own best interests. Assemblage The combining of two or more parcels of land into one larger parcel. Balance A condition that exists in the real estate market when there are slightly more homes available...

Residential Market Analysis and Highest & Best Use Exam Questions and Answers Latest 2024/2025 | Graded A+. The development of a vacant land area is _____________ the highest and best use of the land. Correct Answer: Not Always The Consistent-Use Theory says the _______________ must all be valued considering the same highest and best use of the property Correct Answer: Land and the Buildings ________________ involves subdividing the larger market into a workable study area. Correct Answer:...

Amenity  Anything that adds to a person's comfort or convenience. Amenity zone  A designated area, adjacent or connected to an accessible route, that provides amenities and services (e.g., street furniture, mailboxes, telephones) and can include utilities such as light posts, hydrants, etc. Area of Refuge  An area separate from the general floor area by a fire separation having a fire-resistance rating at least equal to that required for an exit, that is smoke protected an...

The power of a given commodity to satisfy a need or want is called __________________. - Utility The development of a vacant land area is _____________ the highest and best use of the land. - Not Always The Consistent-Use Theory says the _______________ must all be valued considering the same highest and best use of the property - Land and the Buildings ________________ involves subdividing the larger market into a workable study area. - Market Identification The ________...