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6 Cards in this Set
- Front
- Back
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An appraisal is an act or process of developing an opinion of value. True or false |
True |
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The vacancy factor estimate the income loss from a vacant rental unit. True or false |
True |
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one of the elements utilized during the cost approach is valuing the land as if it were vacant. True or false |
True: cost approach looks at the value of the appraised parcel as the combination of two elements. 1.) the value of the land as if it were vacant, and 2.) the cost to rebuild the appraised building as new on the date of the valuation, less the accrued depreciation |
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a neighborhood with homes that vary in style from one house to the next is an example of conformity. True or false |
False: conformity occurs when land uses are compatible and homes are similar in design and size, the maximum value is realized |
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a higher value house among less expensive homes will lose value. this illustrates the principle of: -substitution -regression -contribution -progression |
regression: the opposite of progression, the principle of regression states that the value of a superior property will be worth less because of the presence of lower-valued properties nearby |
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Which type of property uses a depth table to estimate property value? - commercial -apartment -single family residence - government |
Commercial: a depth table is used to estimate the value of commercial properties. |
