McKissock Appraisal Procedures exam with complete solution graded A+

A single unit residence sold for $126,000. It was rented for $1,100 per month but the market rent was $1,200. What is the GRM indicated by this sale? - 105.0 A building was constructed in July 2000 for $754,200. The cost index at that time was 133.6. The current cost index is 201.8. What is the indicated cost new of the building today? - $1,138,842 Property that fronts on a lake is usually valued on a basis of price per - front foot The most complex method of site valuation is the _______________ method. - subdivision development The URAR sales comparison grid requires you to enter in the _________ age of the subject property and comparables. - actual Which type of valuation analysis would typically NOT include a separate site valuation? - gross rent multiplier When describing roofing shingles, a "square" contains __________ square feet. - 100 An expansion tank is part of a ___________ heating system. - hot water What type of framing became popular in the 1800s with the advent of the steam-powered sawmill? - balloon frame A house is rented for $1,050 per month, but lacks air conditioning. Comparable houses with air conditioning rent for $1,100 per month. The appropriate gross rent multiplier is 85. By the capitalized value method, how much is the depreciation attributable to the lack of air conditioning? - $4,250 Which was the earliest form of electrical wiring? - knob and tube