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10 Cards in this Set
- Front
- Back
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overimprovement
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occurs when an owner invests more money in a structure than the owner can reasonably expect to recapture.
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Conformity
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is based on the concept that the more a property is in harmony with its surrounding properties, the greater the contributory value
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Assemblage
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is the combining of two or more adjoining properties into one tract; it is the process of consolidating properties
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Plottage
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is the added value as a result of assembling (combining) two or more properties into one large parcel
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Progression
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is the principle that the value of an inferior property is enhanced by its association with superior properties of the same type
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regression
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is the principle that the value of a superior property is adversely affected by its association with an inferior property of the same type.
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appraisal
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is an opinion of value based on supportable evidence and approved methods
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An appraiser will give the MOST relevance to the cost-depreciation approach when estimating the value of an apartment complex? TRUE OR FALSE?
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FALSE
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An appraiser will give the MOST relevance to the cost-depreciation approach when estimating the value of a single-family home? TRUE OR FALSE?
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FALSE
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sales comparison approach
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to value is based on the theory that a knowledgeable purchaser will pay no more for a property than the cost of acquiring an equally acceptable substitute property
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