Ree 4103 - Study guides, Class notes & Summaries

REE 4103 EXAM 2 BLISS QUESTIONS WITH VERIFIED ANSWERS To estimate its market value, the land under an improved property is best compared to sales of vacant land that Have the same or similar highest and best use Have the same type of building on them (after the sale) Show the maximum value for the subject property Show the minimum value for the subject property - Answer-Have the same or similar highest and best use Price per front foot is a physical unit of comparison not as accu...

Sales comparison approach - An opinion of market value is developed by comparing properties similar to the subject property that have recently been sold, are listed for sale or are under contract What is a major premise of the sales comparison approach? - An opinion of the market value of a property can be supported by studying the market's reaction to comparable and competitive properties Comparative analysis of properties and transactions - _____ focuses on similarities and differences ...

REE 4103 Exam #1 Questions with 100% correct answers | verified | latest update 2024

REE 4103 TEST 2 QUESTIONS WITH VERIFIED ANSWERS GRADED A+ Direct costs (Hard costs) are - Answer-• The cost of labor, materials, and equipment used in construction Entrepreneurial incentive is - Answer-• An amount anticipated prior to development In the cost approach _____ is deducted after estimating the cost to reproduce an existing structure - Answer-Depreciation In the cost approach the site is valued as if it were - Answer-• Vacant and available for development to its hig...

REE 4103 EXAM 1 QUESTIONS WITH COMPLETE SOLUTIONS A house built in 1965 and appraised in 1994 should have - Answer-a chronological (actual) age of 29 years A house has floor coverings that are four years old. Decorators in this area indicate that carpets of similar quality last about 10 years but typically go out of style after only six. What is the value of carpets with a reproduction cost of $5,000 - Answer-(4/6) x $5,000 = $3,333.33 A property sold for $125,000 in a cash sale. It was 1...

REE 4103 Unit 1 Questions with 100% correct answers | verified | latest update 2024

The concepts of land are - Legal, geographic and environmental, economic, and social. For appraisal purposes, market value may be defined as - The most probable selling price Appraisal is - The act or process of developing an opinion of value. What is Chattel? - Personal property is generally considered property that is movable,[1] as opposed to real property or real estate. What is a fixture? - any physical property that is permanently attached (fixed) to real property (usually land...

If a renewable lease option were found to be favorable to a tenant an appraiser: - can assume the tenant would exercise the option to renew Stabilized Net Operating Income should recognize the tenant improvements made to a property that are appropriate for the market. - true In determining income and expenses the first step is: - Lease and rent analysis A lease clause that limits the expenses of the landlord is termed a: (select all the answers that are correct) - expense stop clause an...

All are used in valuation of income-producing property except - income taxes Capitalization is employed in - income approach - income properties A gross lease is one that - tenant pays rent and landlord pays expenses When estimating the market value of an income-producing property, the appraiser will not consider: - income taxes attributable In income capitalization, value is measured as the present worth of the - NOI + Reversion Income capitalization techniques are not typically ...

REE 4103 Exam 1 Questions with 100% correct answers | verified | latest update 2024