Category A
This estimates of value is most likely to provide only a rough estimate of the value of the rental property. (three words)
What is Gross Rent Multiplier?
An appraiser will use comparables that are no more than this age.
What is Six (6) months old?
The Gross Rent Multiplier equals the this price of the property, divided by the this.
What is Sale and Rent?
This person is allowed to do a Competitive Market Analysis (CMA).
Who is a Real Estate Agent?
The market area is a this region where similar properties compete with the subject property for potential buyers.
What is Geographic?
This is the amount a lender would lend on the property. (three words)
The Principle of Change involves changing market conditions such as this and this, as well as appreciation and depreciation affect real estate values.
What is Inflation and Deflation?
The this and this use of a property is defined as the legal use that gives the greatest return in money and/or amenities where the market value of real property is sought.
What is Highest and Best?
Utility states that the property must be able to fulfill a this. If the property has no use, it is of little or no value.
What is Need?
Adjustments for differences between the subject property and the comparable property are made to this property.
What is Comparable?
This is the process of combining two or more parcels of land to form a larger parcel.
What is Assemblage?
Market value is defined as the price a buyer is willing to pay and the price for which a seller is willing to sell, neither being under this.
What is Duress?
This value is the result of combining the parcel to make a larger more valuable property.
What is Plottage?
Duress means threats, violence, constraints, or other action brought to bear on someone to do something against their will or better this.
What is Judgment?
The fixed location of a property is known as this.
What is Site?
This principle states the presence of lower-priced properties in the area will cause a decline in the value of the subject property.
What is Regression?
This is a characteristic of supply and demand.
What is Scarcity?
The property has no value unless there is this for the property.
What is Demand?
This principle means that what a person will pay for a property depends on the expected benefits in the future.
What is Anticipation?
A method of valuing a property based on the monetary returns it can be expected to produce is known as this approach.
What is Income?
An appraisal completed by an appraiser is considered this type of assessment.
What is Formal?
The most widely used approach/method for estimating construction costs is this.
What is Square Foot Method?
An appraisal is an assessment or estimation of the this, or value of reale estate.
What is Worth?
This type of obsolescence is something happening off the property that affects the value of the property.
What is Economic?
An appraiser will use this principle to appraise 1-4 family residential homes and unimproved land.
What is Substitution?