WEICHERT REAL ESTATE CHAPTER 16
WITH COMPLETE SOLUTIONS
Amenity - ANSWER-owner satisfation, clean air, view, & so on
Appraisal - ANSWER-estimation of worth/value
Appraiser - ANSWER-An independent person trained to provide an unbiased estimate
of value
Capitalization Rate - ANSWER-rate of return demanded by investors in a particular area
Reproduction Cost - ANSWER-cost to rebuild exactly, using materials like the original
Sales Comparison Approach - ANSWER-appraisal technique that analyzes sale prices
of comparable properties
Situs - ANSWER-location; buyers' willingness to pay more for certain locations
Comparables - ANSWER-similar nearby property recently sold
Cost Approach - ANSWER-appraisal technique that analyzes the cost to build
Depreciation - ANSWER-loss of value due to worn or outmoded features
External Obsolescence - ANSWER-loss of value due to factors beyond the property
boundaries
Functional Obsolescence - ANSWER-loss of value due to worn or outmoded features
Gross Rent Multiplier - ANSWER-analysis of rental income, used roughly in sales
comparison approach
Gross Income Multiplier (GIM) - ANSWER-analysis of income including rental and other
factors
Market Value - ANSWER-price that would be paid by an informed buyer
Physical Deterioration - ANSWER-loss of value due to wear and tear
Reconciliation - ANSWER-analysis of values received by different appraisal approaches
Replacement Cost - ANSWER-cost to rebuild using today's materials and techniques
WITH COMPLETE SOLUTIONS
Amenity - ANSWER-owner satisfation, clean air, view, & so on
Appraisal - ANSWER-estimation of worth/value
Appraiser - ANSWER-An independent person trained to provide an unbiased estimate
of value
Capitalization Rate - ANSWER-rate of return demanded by investors in a particular area
Reproduction Cost - ANSWER-cost to rebuild exactly, using materials like the original
Sales Comparison Approach - ANSWER-appraisal technique that analyzes sale prices
of comparable properties
Situs - ANSWER-location; buyers' willingness to pay more for certain locations
Comparables - ANSWER-similar nearby property recently sold
Cost Approach - ANSWER-appraisal technique that analyzes the cost to build
Depreciation - ANSWER-loss of value due to worn or outmoded features
External Obsolescence - ANSWER-loss of value due to factors beyond the property
boundaries
Functional Obsolescence - ANSWER-loss of value due to worn or outmoded features
Gross Rent Multiplier - ANSWER-analysis of rental income, used roughly in sales
comparison approach
Gross Income Multiplier (GIM) - ANSWER-analysis of income including rental and other
factors
Market Value - ANSWER-price that would be paid by an informed buyer
Physical Deterioration - ANSWER-loss of value due to wear and tear
Reconciliation - ANSWER-analysis of values received by different appraisal approaches
Replacement Cost - ANSWER-cost to rebuild using today's materials and techniques
