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15 Cards in this Set
- Front
- Back
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Depreciation is used in the --------- appproach to value ? |
You own your land worth 40,000 and your building has a replacement cost of 160,000 what would be the value if the apprasier used a depreciation rate of 30 % ?
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The annual net income for an office building is 20,000. If an owner realized a 9 % return on her investments, the value of the building would be ?
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The Principal of------deals with the most profitable use. ------------ refers to cost and benifit of a particular improvement ------------- Is a factor in the stablility of property values such as zoning |
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A limited supply combined with a great demand will result in a ------------ price for lots
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In apprasing a special purpose building such as a post office, the most reliable approach to an indication of its value would generally be ?
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Which of the following is an example of locational obsolence ? A- Termite damage B- Negligent care of property C- A zoning ordiance allows a decrease in the mimum lot size D- Poor architectural design |
Economice obsolescene results from all of the following EXCEPT A- Adverse zoning changes B- A citys leading industries moving out C- An inharnibious land use in a neighborhood D- Outdated kitchens |
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Depreciation generally applies to A- Building only B- Land only C- Both land and building D- Net income of the building |
A principal factor for which adjustments must be made in using the market/data approach is ? A- Depreciation B- Date of sale C- Amount of real estate taxes D- Cost of replacement |
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An appraiser is estimating the value of a building that has a net income of 5,000 per quater and a capilization rate of 8%. What is the value of this property ?
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Apprasier is using the fross rent multiplier GRM method to estimate the market value of a home. Home has anual gross income of 7,200 with quaterly expenses of 900 The recognized GRM for the neighborhood is 110. The appraiser estimate of value is likely to be ? A- 22,000 B- 33,000 C- 66,000 D- None of theese |
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Determining value of a 20 unit appartment building. Apprasier has established gross income from rents. After deducting the loss for vacancies and collection lossses from this gross income, apprasier would have established the ? A- Net Income B- Spendable Income C- Gross Income D- Effective gross income |
What is the first step an apprasier would take to arrive at an estimated value using the income approach ? A- Determine the annual potential gross income B- Determine operating expenses C- Determine effective gross income D- Determine the vacancy rate |
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Airport route changed, now airplanes flying over residental area. The subsequent loss in value caused by the airplane noise would be BEST described as ? A- Physical Depreciation B- Functional Obsolescence C- External or Economic Odsolescence D- Eminent Domain |
Which factor would be considered in the market/data or sales comparison approach to value ? A- Conditions under which property was sold B- Annual gross income C- Replacement cost D- Original cost |
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Outmoded plumbing fixtures are an example of A- Curable physical deterioration B- Curable functional obsolescne C- Incurable physcial deterioration D- Curable external obsolescence |
Income approach to apprasial: The net income was 42,000 and the capitalization rate was 12 % to find the value of the property the apprasier would ? A- multiply income by cap rate B- multilpy cap rate by net income C- divide net income by cap rate D- divide cap rate by net income |
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Denise lived in a house with a well. The groundwater entering the homeowners well became contaminated and lessened the value of Denises home. The loss in value is an example of ? A- physical deterioration B- external obsolescence C- functional obsolescence D- regression |
What are the stages in which a neighborhood passes ?
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Gross rent multilpiers, are generally used in apprasing ? A- Forms B- Shopping Centers C- Single family homes D- Hotels |
Purchased Appartment building for 600,000 nearly 6 years ago. Building accounted for 80 % of the purchase price. If the building economic life is estimated to be 60 years, What is the total depreciation of the property ?
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Ed purchased office building with an annual effective gross income of 208,000 and expenses of 74,000. What capitilization rate was used by Ed to arrive at a value of 1576470 ? A- 7.5% B- 8.5% C- 9.5% D- 10.5% |
Maria was apprasising a 3 bedroom house. She had a comparable with 4 bedrooms that sold for 160,000. Maria makes an adjustment of 5,000 to the comparable for the difference in the number of bedrooms, The adjusted sales price of the comparable will be ? A- 155,000 B- 165,000 C- 170,000 D- None of theese |
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House you are appraising has centeral air valued at 2,500 and your comparable does not you will adjust the price of the comparable by ? A- - 2,500 B- +2,500 C- - 1,250 D- None of theese |
Homes value is increased because of its proximity to schools, parks and transportation lines. Theese neighborhood sites are refred to as A- Features B- Benifits C- Amenities D- Attachments |
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A bike trail enhances the value of a neighboring home is called A- Feature B- Benifit C- Amenity D- none of theese |
Comparable property sold for 250,000 and it has 200 more square feet than a subject property. Is Square footage contributes $30 per square foot, what is the adjusted value of the comparable ?
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Which of the following states does not correctly describe a CMA ? A- generally groups comparables to indicate a range of values B- Does not consider expired or withdrawn listings that did not sell C- Can use both GIM and GRM D- Does not provide a specific opinion of value |
end of valuation and market analysis
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