Appraisal || With complete solutions.

transferability, utility, scarcity correct answers What are essential elements of value? increase in value correct answers A residential parcel of property is rezoned to commercial. The value of this parcel of property would most likely: the most probable price a property should bring correct answers When appraising in a competitive and open market, marke value is: the market value of the property correct answers The primary purpose of an appraisal is to determine: location of the property correct answers What factor would have the greatest effect on a property's market value? constuction and material costs correct answers What factors would affect the supply of real estate? adding a second bathroom in a four bedroom house correct answers What actions by the owner would have the most positive effect on the value of their property? the opening of a large manufacturing plant correct answers What factor would most likely increase demand and prices of residential properties in a given area? economic obsolescence (distance from schools and shopping centers) correct answers When doing a neighborhood analysis, an appraiser would most likely be concerned with: define the problem or purpose correct answers The 1st step in the appraisal process is to: an opinion or estimate of a property's market value as of a specific date correct answers What statement best describes an appraisal issue the appraisal report correct answers What is the last step in the appraisal process? the period over which an improved property is profitable correct answers The economic life (useful life) of a property can be best described as: physical deterioration correct answers A form of depreciation caused by ordinary wear and tear on the property would be: the estimated current cost of constructing the improvement less depreciation correct answers When using the cost approach to estimate the value of a property, what would most likely be used? a house located next to an industrial plant correct answers What would be the best example of external obsolescence? functional obsolescence correct answers A house with outdated plumbing, narrow hallways, small garage, no bathtub and a poor floor plan would most likely suffer from: