Today the _______________ technique of site valuation is used primarily in highest and best use analysis. Which is true reguarding the situation? property tax rates, When describing roofing shingles, a "square" contains __________ square feet. For a comprehensive list of resources such as access forms, announcements, lender letters, notices and more. square foot modified replacement. cost approach For appraisals prepared using the UAD, quality of construction for the subject and comparables is rated using: The Fannie Mae URAR form is designed to report an appraisal of: An appraisal of which of these types of properties would not be reported using the Fannie Mae URAR form? That is more than its present value. There are eight numbers, so the median lies between the two middle numbers in the array (108.9 and 109.8). By extraction, what is the value of the land? Net Subscriber Value expands significantly to $16,569, reaching the highest level reported in Sunrun's history. Income can be capitalized into value by dividing by a _____ or multiplying by a _____. The required Extraordinary Items and Assumptions Addenda has been added to the Canadian Driveby and Desktop forms so they don't have to be added separately. quality All uses are physically possible, economically feasible and legally permitted. The easiest and best support is an analysis of demolitions. [Name] Number of years remaining of economic life for the property. What is the percentage of change in market conditions? Explain your reasoning. if they are cured, it will reduce the effective age to 15 years. quantitative estimate land value Market condition adjustments should always be calculated from the time of the ________ to the ___________. The reproduction cost of the improvements today would be $350,000 and the total depreciation is estimated to be 80%. "The right held by the lessee to use and occupy real estate for a stated term and under the conditions specified in the lease" is the definition of _______________. By the capitalized value method, how much is the depreciation attributable to the lack of air conditioning? Not enough information to determine, Which of the following would NOT be a common adjustment made in sales comparison when appraising land? log home The most common unit of comparison for land in urban areas is price per _______. $299,500. If they are cured, it will reduce the effective age to 15 years. Because Lisa has worked on several projects for Lake View Winery, management specified that Lisa must be assigned at least 40 percent of the total number of hours assigned to the two senior designers. What is the median of the GRMs? extraordinary assumption Site development costs (sewer, grading, road, etc.) An appraisal with an effective date at some point in the future is called a(n) ___________ appraisal. An estimate of remaining economic life is required by: Fannie Mac Freddie Mac VA identification of the property rights The basic principle underlying the cost approach is the principle of ____________. It has an effective age of 20 years and a total expected economic life of 65 years. Appraisers are cautioned to identify the exact _______________ of market value, and its _______________, applicable in each appraisal completed for the purpose of market value. determine the scope of work, Depreciation is defined as "a loss in property value from _________. " entrepreneurial incentive- expected profit. version of a page. . This 25% figure represents. front foot Those are the correct limits. It has a land area of about 2,150,000 km2 (830,000 sq mi), making it the fifth-largest country in Asia, the second-largest in the Arab world, and the largest in Western Asia. reproduction, A partial estate could be created by the existence of all the following EXCEPT The _______________ method has good application in valuing land in rural areas and in older, urban areas. That defines yield capitalization - discounting of future cash flows. "The estimated period over which existing improvements are expected to contribute economically to a property; an estimate of the number of years remaining in the economic life of a structure or structural components as of the effective date of the appraisal; used in the economic age-life method of estimating depreciation." Effective If a cost manual is used, the result is _____________ cost. actual The intended user of an appraisal is the __________ and any other user, as identified by _________. condominium. Given how high inflation is right now, why arent mortgage rates even higher? What step of the sales comparison process involves considering these indications and arriving at an indication of value for the subject? hot water investment credible Yes, it is required by VA and FHA. Consolidated (in millions, except per share amounts) 4Q22. All of the following could be sources of specific data EXCEPT. Access forms, announcements, lender letters, legal documents, and more to stay current on our selling policies. The summation approach is another name for the _______________ approach. Overall Capitalization Rate (RO). If they cost manual us use the result is _____ cost. $12,000 $240,000 = .05 or 5%. It has an effective age of 20 years and a total expected economic life of 65 years. Construction materials and workers' wages are examples of __________costs. Comparable houses with air conditioning rent for $1,100 per month. Since both the lease payments required during the lease and the purchase option price are fixed, Lessee Corp can combine these cash flows with its estimate of the property's fair value to determine that the interest rate Lessee Corp incurs during the lease is 9. . direct capitalization GLA includes _______________ but not _______________. $1,000,000, $250,000; Residential Income Approach. $75,000 per unit as a site for a duplex; or C. $50,000 per acre as a retail site. Extraction Method. yield capitalization allocation, When estimating the amount of adjustments for differences among properties, the most important principle is the principle of _______________. type, scope $1,279.70 $250,000 - $152,000 = $98,000 (land value). both general and specific data Soil mass produced by the natural resources conservation services are based on: A factory built house constructed in compliance with the standards of the applicable region, state or local building code is a blank home. By the capitalized value method, how much is the depreciation attributable to the lack of air conditioning? $560,000 - $65,000 = $495,000. $350,000 X .2 = $70,000 (current building value). a. the total amount to be charged (debited) to expense over an asset's useful life. Conversely, if an entity leases a forklift, with an economic life of five years, for a term of four years and option for an additional four year term, the entity might conclude that it was unlikely to exercise the option due to the remaining life of the asset. Zoning allows it to be subdivided into 8 lots and it is estimated that each lot could sell for $70,000. direct indirect reproduction replacement direct The difference between the cost of a value on the effective date of the appraisal is: The amount on your expects to receive or his or her contribution to a project is: Feesimple ownership is not subject to the governmental powers of police power and escheat. when it is necessary for credible results. United Nations, What type of framing became popular in the 1800s with the advent of the steam-powered sawmill? . indirect costs Fannie Mae says that has it adjustments for sales or financing concessions are: Converting an estimate of a single years expected income into an indication of value is: Any rate used to convert and come into value is the definition of: If an apartment building is operating at only 50% occupancy, this should mean that _____ expenses would be lower. True or false? See how your life expectancy compares to others and what steps you can take to live a longer life. capitalization rate The Economic Age/Life Method (also called the straight-line method) is the most common depreciation technique employed by residential appraisers. economic life, long-lived expected remaining economic, remaining economic useful, remaining physical . The number of years that have a lab since the building was constructed is it's: Effective age is the same as chronological age. d. the acquisition cost of the asset. In most residential appraisals, the appraiser values, sale price, gross monthly unfurnished market rent. $85,000 per unit as a site for a duplex and C. $60,000 per acre as a retail site. Add them up and divide by 7 = 96.3. The retail use is the highest and best use as it produces the highest value of the three choices. 5,000 acre ranch In the age-life method of estimating depreciation, the blank age is divided by the blank life. Drilled wells need to use __________ until the drilling enters ___________. Gross Rent Multiplier Analysis. Selected GAAP and Non-GAAP measures: Sales . land residual and ground rent capitalization front foot Appraisal regulatory agencies state that one of the problems with the allocation method is: The extraction method of sight valuation typically has good applicability an older urban areas. owner of record Aurora extends the Better.com merger deadline once again, Real estate agents wonder if inventory levels will ever return to normal, Optimizing client engagement and communication in 2023, Shared Equity: A required intervention for home affordability. land residual GLA, exterior effective gross income "The estimated cost to construct, at current prices as of the effective appraisal date, an exact duplicate or replica of the building being appraised, using the same materials" is the definition of _______________ cost. 1 - Radon, Mold, a, FL Trainee Appraiser - Ch. The company will use the straight-line method to report the amortization of the software. What is your net adjustment? That is the most complex and involves discounted cash flow analysis. market conditions what is the value of the improvements on a modified age-life basis, before including the site value? entrepreneurial profit, Building permits and worker's compensation are examples of __________costs. The credibility of assignment results is always measured in the context of the _______________. Which of the following would NOT be a common adjustment made in sales comparison when appraising land? The appraiser estimates that $61,000 of income is attributable to the building. Effective date of the appraisal, date of the report. When an asset is no longer useful to its owner, then it is said to be past its economic. After all, the borrower should be able to sell the property at a reasonable rate as determined by current market conditions at any point during the lifetime of the FHA loan. Comparable houses with air conditioning, rent for $1,100 per month. Decide whether the following statement is true or false makes sense. 11 (Reconcilia, FL Trainee Appraiser - Ch. Disposal value after 8 years - Zero. It is 12 years old and has an estimated remaining economic life of 38 years. $395,000 - $39,500 (10%) + $65,000 = $420,500. physical, "The relationship or ratio between the sale price or value of a property and its gross annual rental income" is the definition of A house is rented for $1,050 per month, but lacks air conditioning. $2,980 Short lived items Cost is $20,000 and depreciation on the short lived items has been identified .
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