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Appraisal4
Appraisal
Question | Answer |
---|---|
Deferred Maintenance | Postponed maintenance on property that results in increased physical depreciation (wear and tear) |
Life Cycle | The stages of growth and development of a community-grow, stabilize, decline and revitalize |
Up and Coming Neighborhood | A neighborhood in th revitalization stage of the life cycle |
Square Footage | The finished space of a structure measured by the exterior walls |
Gross area | The are of a building under the roof-includes unfinished areas |
Setback | The amount of space required between the lot line and the building line |
Straight Line Method | Depreciation of equal annual installment amounts |
Depreciated Value | Original cost less the the depreciation |
Module | A unit of prefabricated housing-offsite construction |
Collateral | Something of value pledged as security for a loan |
M.A.I. | Member, Appraisal Institute-a designation earned by a licensed appraiser |