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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 |