Unit 17 Quiz Attempt #3

If the price of an item is increasing

When a market is in equilibrium?

_____ is how real estate is distinguished as an economic product.

The city of Scottdale has declared a moratorium on new construction. If demand is increasing what will be likely effect on real estate prices in the area?

If Jane, Ilc., a company that markets its nursing clothing worldwide, moves into Mayville and hires 150 employers, it is reasonable to expect that the town will experience

A housing boom, but no other changes in the real estate market

It is common for the market to experience ____ when vacancies are declining in a real estate?

Which of the following are the four fundamental determinants of values are

A town is rapidly growing, but all the build-able vacant lots in the most desirable area have already been occupied. In this case it is likely that the price of existing homes in that area

If there is a significant under-supply of homes in a market, construction will tend to increase. This is an example of

It is likely that _____ if commercial real estate rental prices are falling in a market.

What happens to prices if there is a construction boom?

Real estate is considered illiquid because

“Base employment” in real estate demands means

Define vacancy

Market value is best defined as:

If an appraiser is determining the depreciation of a property which of the following would be factors in his appraisal

Which one of these examples can be classified as external depreciation

Julie builds a large, five-bedroom home with a private pool in a neighborhood filled with small two-bedroom houses. Which principle will MOST likely affect the value of Julie’s house

On which types of real property is the sales comparison approach to estimating a property’s value best

John builds a large six-bedroom house with a pool, private gym, and bowling alley in a neighborhood of small two-bedroom houses. Which principal is most likely to affect the value of John’s house

Tim is trying to sell his house. In order to bring a higher sales price he is trying to rid his property of functional obsolence, Which of the following is an example of functional obsolesce

The physical condition of a building is called

When finding the value of a property using the income approach, an appraiser would ______ if the NOI and the cap rate were known.

If the value of the land is calculated separately from the value of the improvements, this is considered the:

What explains how the property was managed and makes projections for the new year?

All but which answers contribute to a marketing plan

Select the answer which is not a step in the appraisal process.

Select the step made use of in the cost approach to value.

Select the choice that would be left out of an appraisal report.