Real Estate Appraisal
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Accrued Depreciation | show 🗑
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Anticipation | show 🗑
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show | The combining of two or more adjoining lots into one larger tract to increase their total value.
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Appraisal | show 🗑
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Broker's Price Opinion (BPO) | show 🗑
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Capitalization Rate | show 🗑
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Change | show 🗑
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Competitive Market Analysis (CMA) | show 🗑
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Competition | show 🗑
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show | The appraisal principle that holds that the greater the similarity among properties in an area, the better they will hold their value.
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show | The appraisal principle that states that the value of any component of a property is what it gives to the value of the whole or what its absence detracts from that value.
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Cost Approach | show 🗑
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show | In appraisal, a loss of value in property due to any cause, including physical deterioration, functional obsolescence, and external obsolescence
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Economic Life | show 🗑
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show | Incurable depreciation caused by factors not on the subject property, such as environmental, social, or economic factors
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Functional obsolescence | show 🗑
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Gross Income Multiplier (Gim) | show 🗑
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Gross Rent Multiplier (GRM) | show 🗑
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Highest And Best Use | show 🗑
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show | The process of estimating the value of an income-producing property through capitalization of the annual net income expected to be produced by the property during its remaining useful life.
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show | Law that applies as long as money being spent on improvements produces an increase in income or value
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Law Of Diminishing Returns | show 🗑
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Market Value | show 🗑
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show | The income projected for an income-producing property after deducting losses for vacancy and collection and operating expenses
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Physical deterioration | show 🗑
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show | The increase in value or utility resulting from the consolidation (assemblage) of two or more adjacent lots into one larger lot.
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Progression | show 🗑
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show | The final step in the appraisal process, in which the appraiser combines the estimates of value received from the sales comparison, cost, and income approaches to arrive at a final estimate of market value for the subject property.
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show | An appraisal principle that states that, between dissimilar properties, the value of the better-quality property is affected adversely by the presence of the lesser-quality property.
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show | The construction cost at current prices of a property that is not necessarily an exact duplicate of the subject property but serves the same purpose or function as the original.
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Reproduction cost | show 🗑
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show | The process of estimating the value of a property by examining and comparing actual sales of comparable properties
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show | The amount of money paid to a seller for a product bought
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State-certified Residential Real Property Appraiser | show 🗑
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show | May appraise any type of property for any purpose in Georgia.
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show | May perform any appraisal that is not to be used in a federally related financial transaction and may perform appraisals for use in a federally related financial transaction in which the value of the transaction does not exceed $1 million.
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Substitution | show 🗑
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Supply And Demand | show 🗑
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show | A set of standards that details information required in an appraisal of residential property. This report is required by many government agencies.
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show | Physical, Functional and External obsolescence
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Depreciation is most often determined by | show 🗑
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show | Properties Cost / # of years of expected economic life
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show | Net Income / Salesprice
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show | Income / Rate
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Determining Rate | show 🗑
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Determining Income | show 🗑
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Gross Rent Multiplyer | show 🗑
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Gross Income Multiplyer | show 🗑
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show | Sales Comparison, Cost and Income Approach
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show | General, Specific Data
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Created by:
jozie723
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