Principles of Real Estate 2 (TEXAS) Exam With 100% Correct Answers 2024

Principles of Real Estate 2 (TEXAS) Exam With 100% Correct Answers 2024 Appraiser must be aware of? - answermarket cycles economic force political actions The principle of appraisal that states "value is influenced by the cost of acquiring a comparable replacement" is: - answerprinciple of substitution The presence of a higher-priced property in an area causing an increase in the value of the surrounding properties is an example of the ________ - answerprinciple of progression The appraisal method most commonly used as the best indicator of value for existing properties is the - answerSales Comparison Approach The principle of appraisal that states that the value of the property in question is decreased by the value of surrounding properties is..... - answerPrinciple of Regression Loss in desirability of style, layout or function of an element of a property over time. - answerfunctional obsolescence Depreciation based on factors outside the property is.... - answerExternal Obsolescence External Obsolescence (EXTRA) - answerLosses of property value caused by forces or conditions beyond the borders of the property. The losses are deducted from a building's reproduction cost in the cost approach to estimating market value. The organization that has been most influential in addressing regional imbalances of mortgage credit availability and in the standardization of mortgage loan is..... - answerFANNIE MAE Fannie Mae began in ________ as an agency of the federal government, created to bring stability to the U.S. housing market. - answer1938 The federal law that prohibits discrimination in any aspect of a credit transaction is... - answerEqual Credit Opportunity (ECOA) The percentage of the appraised value or sales price that the lender will lend, whichever is lower, is.... - answerLoan-to-value ratio (LTV) PMI (Private Mortgage Insurance) would be found - answerHigh LTV