Ree 4103 Study guides, Class notes & Summaries

REE 4103 EXAM 1 QUESTIONS WITH COMPLETE SOLUTIONS A house built in 1965 and appraised in 1994 should have - Answer-a chronological (actual) age of 29 years A house has floor coverings that are four years old. Decorators in this area indicate that carpets of similar quality last about 10 years but typically go out of style after only six. What is the value of carpets with a reproduction cost of $5,000 - Answer-(4/6) x $5,000 = $3,333.33 A property sold for $125,000 in a cash sale. It was 1...

Sales comparison approach - An opinion of market value is developed by comparing properties similar to the subject property that have recently been sold, are listed for sale or are under contract What is a major premise of the sales comparison approach? - An opinion of the market value of a property can be supported by studying the market's reaction to comparable and competitive properties Comparative analysis of properties and transactions - _____ focuses on similarities and differences ...

REE 4103 TEST 2 QUESTIONS WITH VERIFIED ANSWERS GRADED A+ Direct costs (Hard costs) are - Answer-• The cost of labor, materials, and equipment used in construction Entrepreneurial incentive is - Answer-• An amount anticipated prior to development In the cost approach _____ is deducted after estimating the cost to reproduce an existing structure - Answer-Depreciation In the cost approach the site is valued as if it were - Answer-• Vacant and available for development to its hig...

What is appraisal? - The act or process of developing an opinion of value of an asset What is USPAP? - Uniform Standards of Professional Appraisal Practice What is real estate? - An identified parcel or tract of land, including imporvements, if any. The physical land and appurtenances affixed to the land What is real property? - The interests, benefits, and rights inherent in the ownership of real estate (land, buildings, fixtures) What is the total range of private owneership intere...

REE 4103 Exam #1 Questions with 100% correct answers | verified | latest update 2024

REE 4103 Unit 1 Questions with 100% correct answers | verified | latest update 2024

REE 4103 Exam 2 Questions with Complete Solutions.

The concepts of land are - Legal, geographic and environmental, economic, and social. For appraisal purposes, market value may be defined as - The most probable selling price Appraisal is - The act or process of developing an opinion of value. What is Chattel? - Personal property is generally considered property that is movable,[1] as opposed to real property or real estate. What is a fixture? - any physical property that is permanently attached (fixed) to real property (usually land...

If a renewable lease option were found to be favorable to a tenant an appraiser: - can assume the tenant would exercise the option to renew Stabilized Net Operating Income should recognize the tenant improvements made to a property that are appropriate for the market. - true In determining income and expenses the first step is: - Lease and rent analysis A lease clause that limits the expenses of the landlord is termed a: (select all the answers that are correct) - expense stop clause an...

All are used in valuation of income-producing property except - income taxes Capitalization is employed in - income approach - income properties A gross lease is one that - tenant pays rent and landlord pays expenses When estimating the market value of an income-producing property, the appraiser will not consider: - income taxes attributable In income capitalization, value is measured as the present worth of the - NOI + Reversion Income capitalization techniques are not typically ...