Real Estate Appraisal || Questions with 100% correct answers.

Mario's investment in a home in an older neighborhood is paying off now that the old post office next door has been converted to a recreational open space. correct answers Change Jane owns an empty warehouse. She's contemplating whether she stands to profit more by keeping the industrial property or converting it to residential condominiums. correct answers Highest and Best Use "Last year, we could have sold for $20,000 more, but there just aren't enough buyers in the current market," you explain to your client. correct answers Competition Which of these best describes the purpose of FIRREA Title XI? correct answers The public's and federal government's financial interests are protected during a real estate transaction by ensuring that real estate appraisals are performed with professional integrity. A _______________________ Real Property Appraiser can appraise any residential property, regardless of value or complexity, and vacant land that will be developed as residential property. They aren't qualified to appraise commercial property. correct answers certified residential A ___________________________ Real Property Appraiser can appraise one- to four-unit residential properties that are valued up to $1 million and are not complex in nature. They aren't qualified to appraise non-residential property. correct answers licensed residential A ________________________ Real Property Appraiser can appraise any residential or non-residential property, regardless of value or complexity. correct answers certified general Certified general real property appraiser correct answers 300 hours Licensed residential real property appraiser correct answers 150 hours Certified residential real property appraiser correct answers 200 hours Appraiser trainee correct answers 75 hours Your client is purchasing a single-family home with a VA loan. The listing price is $150,000. correct answers Required Key Points 2 correct answers - Scarcity relates to market supply--how rare is this type of property in this price range in this location? - Utility speaks to the function of the property—to what use can the property be put? - Demand relates to how popular or desirable a property is—the market's thirst for that particular property.