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14 Cards in this Set

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  • Back
Accuracy
measured by the correctness of data & adjustments to each comparable
Appropriateness
the applicability of each approach to the appraisal
Confidence interval
the possible range of values in which the point estimate value lies
Final value estimate
the indicated range or point estimate made by the judgement of the appraiser
Gross adjustment
an adjustment or total adjustments ignoring negative signs; the absolute value of adjustments
Net adjustment
the adjustment to a comparable after netting positive & negative adjustments
Point estimate
a single dollar amount
Probability range
a range of value from low to high that the point estimate of value may be found
Quantity of evidence
refers to the amount of data in the 3 approaches
Range of value
value shown or indicated from a potential low to high value
Reasonableness
logical or rational justification, as well as consistency in deriving a value
Reconciliation
analysis of alternatives to arrive at a conclusion
Reconciliation criteria
appropriateness; accuracy; quantity of evidence
Rounding
indicating a less precise value from more precise by using e.g. significant digits (rounding to the least accurate significant digits used in the calculations)