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7 Cards in this Set
- Front
- Back
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Which principle of value suggests that the maximum value of property generally cannot exceed the cost of it's replacement?
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Substitution
A replacement would be a substitute for the existing property. |
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What term is used to denote the time-distance relationship between a property or neighborhood and all other possible origins and destinations?
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Linkage
Linkage denotes the time-distance relationship between properties. |
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Cost and market value are most likely to be similar under which condition?
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The property is new
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Which statement is NOT true in regard to real estate markets?
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Supply adjusts more quickly than demand
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Highest and best use analysis is used to determine which factor?
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It can be used to determine several factors: for vacant land, to determine whether existing improvements should be demolished and the TYPE of property on the site.
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The term ABSORPTION RATE refers to:
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An absorption rate is the measure of the rate at which real estate space will be sold or occupied.
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The property has a market value of $100,000. The owner currently owes $60,000 in mortgage loans against the property. The owners equity is:
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$100,000 - $60,000= $40,000
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