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MCKISSOCK BASIC APPRAISAL PRINCIPLES QUESTIONS WITH COMPLETE ANSWERS

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MCKISSOCK BASIC APPRAISAL PRINCIPLES QUESTIONS WITH COMPLETE ANSWERS

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Appraiser


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One who is expected to perform valuation services competently and in a
manner that is independent, impartial, and objective.

,secondary money market


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created by govt. and private agencies for the purchase and sale of existing
mortgages making mortgages more liqud




standards rule 1-5(a) of USPAP


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analyze all current agreements of sale, options, or listings of the subject
property




regression


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the concept that a higher priced property will be worth less in a lower priced
neighborhood than it would in a neighborhood of comp properties




market area


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, geographic regoin which a majority of demand and competition comes from




concurrent ownership


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tenancy in common, joint tenancy, tenancy by the entirety




scarcity


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present or anticipated undersupply of an item relative to the demand for it




intangible value


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value cannot be imputed to any part of the physical property




assessed value


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, The value of an asset determined by tax authorities for the purpose of
calculating taxes




external market forces


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planning,zoning,building codes, envt restrictions, taxes, utilities,
transportation, education, cultural, parks and rec, police, fire protection,
public safety




1 furlong


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660 Feet, or 10 Chains




absorption trends


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rate at which vacant space is expected to be sold or leased

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