Busy. Please wait.

show password
Forgot Password?

Don't have an account?  Sign up 

Username is available taken
show password


Make sure to remember your password. If you forget it there is no way for StudyStack to send you a reset link. You would need to create a new account.
We do not share your email address with others. It is only used to allow you to reset your password. For details read our Privacy Policy and Terms of Service.

Already a StudyStack user? Log In

Reset Password
Enter the associated with your account, and we'll email you a link to reset your password.
Don't know
remaining cards
To flip the current card, click it or press the Spacebar key.  To move the current card to one of the three colored boxes, click on the box.  You may also press the UP ARROW key to move the card to the "Know" box, the DOWN ARROW key to move the card to the "Don't know" box, or the RIGHT ARROW key to move the card to the Remaining box.  You may also click on the card displayed in any of the three boxes to bring that card back to the center.

Pass complete!

"Know" box contains:
Time elapsed:
restart all cards
Embed Code - If you would like this activity on your web page, copy the script below and paste it into your web page.

  Normal Size     Small Size show me how

Real Estate 10

Real Estate Principals lesson 10

when is an appraisal good? on the given date
an appraiser who doesn't use proper methods on a government loan? is guilty of a felony
Appraising Steps? define problem,make a preliminary survey,collect data,correlate data, estimate the final data
what is unimportant when determining value? assessed value
Does an appraiser average? No
what should an appraiser do when appraising a property with a building and no value? appraise the land for the highest value by subtracting demolition costs
what is an appraiser most interested in? the date the price is agreed upon
Three types of Appraisal reports? Letter Form, short form, and narrative report
Narrative report includes everything but? financing
1 acre = 43560 sq. ft.
a commercial acre = an acre minus streets,sidewalks etc.
if rapid turnover doesn't stabilize value what does? high percentage of owner occupancy
progression? the value of something less increases when surrounded by more expensive
regression? the value of something more decreases when surrounded by things of less value
Principal of substitution? two like properties cost about the same
one property can be substituted for another in terms of? use,income, or design
Principle of Highest and Bets Use the use which will most likely produce the greatest net income
what is the first thing to do on vacant land determine highest and best use
how would an appraiser determine highest and best use? site analysis
principal of contribution? Net Income
Principal of Productivity LCCL Labor,coordination,capital, land
in principal of productivity which is the last to be satisfied? land
value? present worth of future benefits
market value (objective value) willing seller and willing buyer
utility value sentimental value
Cost past expenditures, what it took to make it
price what one pays
four essential elements of value DUST Demand,utility, Scarcity, Transferability
Special Forces Influence Value PEGS Physical,economic,government,social
Exposure? southwest corner of the intersection
Plottage? Two plots together is better than one
Topography? Some limited irregularity for residential property is best
Amenities? Beneficial influence (solar panels)
Orientation? Placement of a house on its lot
Unearned Increment? increase in value due to inflation or increase in population
Appreciation? an increase in value over time
Created by: medct