Term
A market where tenants negotiate rent and other terms with property owners or their managers is referred to as:
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| The market in which required rates of return on available investment oportunities are determined is referred to as the: |
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| The actions of local, state, and federal governments affect real estate values: |
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| What portion of households owns their house? |
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| Of the following asset categories, which class has the greatest aggregate market value? |
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| Storm water drainage systems are best described as: |
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| What is the single largest asset category in the portfolio of a typical US household? |
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| Real estate markets differ from other asset classes by having all of the following characteristics except: |
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| Which of the following is not important to the location of commerical properties? |
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| Which of the following attributes of a home are the most difficult to observe and value? |
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| The term real estate can be used in three fundamental ways. List 3 alternative uses of definitions: |
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Definition
Real estate is most commonly defined as land and any improvements made to or on the land, including fixed structures and infrastructure components.
The term is also used to describe the "bundle of rights" associated with the ownership and use of the physical acitivites related to the developement, construction, acquisition, operation, and disposition or real property assets. |
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| The US represents about 6 percent of the earth's land service, or approximately 2-3 billion acres. Who actually owns this land? What is the distribution of this land among the various uses. (developed land, federal, land, forest land) |
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Definition
| Developed land, consisting of residential industrial, commerical, and institutional land, represents approximately 6 percent of the total land in the US Federal lands and water areas occupy about 23 percent of the land; crop land and CRP land represent about 20 percent; and pasture land comprises about 6 percent of the land. Finally, the remaining land is divided between range land and frest land, with each representing 21 percent of all US land. |
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Term
| The final price for each comparable property reached after all adjustments have been made is termed the: |
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Definition
| Final adjusted sale price |
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Term
| Which of the following is not included in accured depreciation when applying the cost approach to valuation? |
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| In the sales comparison approach, the value obtained after reconciliation of the final adjusted sales price from the comparable sales is termed the: |
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Definition
| indicated opinion of value |
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| A new house in good condition that has poor floor plan would suffer from which type of accured depreciation? |
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Definition
| Incurable functional obsolescence |
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Term
| To reflect a change in market conditions between the date on which a comparable property sold and the date of appraisal of a subject property, an adjustment must be made for which of the following? |
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| Under the Cost Approach to appraisal, the estimated expenditure required to construct a building with equal utility as the one being appraised is termed the? |
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| Which of the following is not an operating expense? |
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| An over capitalization rate (Ro) is divided into which type of income or cash flow to obtain an indicated market value? |
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| Which of the following types of properties probably would not be appropriate for income capialization. |
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