Unit 17 Quiz Attempt #4

Usually, one can assume that if the price of an item is increasing then

Which of the following is true when a market is in equilibrium

Which of the following is true of how real estate is distinguished as an economic product?

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

If Scotts a company that markets water worldwide moves to Atlanta and hires 300 employees. What will happen in that city?

Which of the following defines absorption?

When vacancies are increasing in a real estate market, it is common for the market to experience

The price for any product is a function of four fundamental determinants of value. These 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

What will likely happen if commercial real estate rental prices drop

A construction boom in a market is an indication that prices

Why is real estate traditionally considered a relatively illiquid economic product?

What does “base employment” refer to in the context of real estate demand?

What is a “vacancy” in real estate market economics?

What is the best definition for market value?

Depreciation is best defined as

An example of external depreciation is:

A large home with many private amenities, like a pool and gym, is built in a neighborhood where the other houses are small, two-bedroom houses with no amenities. Which principal will MOST likely affect the value of the large home?

the sales comparison approach is used to estimate a property’s value. Which property is this method best for

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

Which of the following is an example of functional obsolesce

An appraiser’s estimate of the physical condition of a building is called

The ratio of the operating expenses to the operating income cannot be explained by:

A marketing plan requires all but which answer?

In the cost approach to value, the appraiser makes use of the:

Of the following, which would an appraiser leave out of their report?

Select the choice an appraiser of a commercial property would be most concerned with.

Which principle would BEST describe an increase in rent in an area?

What is “appraised value?”