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22 Cards in this Set
- Front
- Back
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PGI
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Potential Gross Income
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VBD
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Vacancies + Bad Debt
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EGI
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Effective Gross Income
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NOI
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Net Operating Income
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MAI
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Member Appraisal Institute (commercial)
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SRA
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Senior Residential Appraiser (residential)
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ASA
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American Society of Appraisers
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DUST or STUD
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Demand
Utility Scarcity Transferability |
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Market Price
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Not determined until the point of closing.
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Cost
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Dollar amount to produce the product
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Salvage/ Residual
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value of the land plus all of the scrap
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Assessed Value
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Determines Taxes
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What is a subjective category of value?
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It is created in peoples minds
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What is an objective category of value?
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It is created by object itself
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Assemblage/Pottage Increment
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Combining contiguous parcels of land thus increasing the value
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Anticipation
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A future event can effect the value of the property
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Conformity
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A property retains it's value when it conforms to the properties around it
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Contribution
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When you add or contribute to a property it increases the value
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Substitution
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When faced with two equally desirable products, the consumer will choose th e cheaper one
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Highest and Best Use
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generates net use on the land.
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Integration and Disintegration
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Life cycle of a neighborhood. When it is young it is integrated and when it is old it is disintegrated.
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When would you use the market data approach or comparative analysis when appraising?
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When appraising new land or when reselling residential property
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