Valuation and Market Analysis

In Texas, a comparative market analysis (CMA) can be prepared by:

In Florida, the sales comparison approach is most commonly used for:

A capitalization rate of 8% on a property with $40,000 NOI indicates a value of:

The sales comparison approach adjusts for differences by:

In Texas, functional obsolescence includes:

Physical deterioration in Florida is often caused by:

Under federal law, which type of loan typically does NOT require a property appraisal?

For appraising a vacant lot for single-family residence construction, which approach applies?

Who typically hires the appraiser in a real estate transaction?

For 1930s buildings, the cost approach is least accurate due to:

The best method to determine fair market value is:

An example of functional obsolescence is:

A depth table is used to estimate property value for:

Broker Juan lists a house for 11 months without selling it. Broker Juan is aware the building needs major structural repairs and is listed at 10% above its fair market value. Broker Juan runs an advertisement in a newspaper stating, “Three bedroom, Adobe. The price will amaze! Move-in ready and turnkey condition. Call Broker Juan today!” This advertisement is improper since:

When appraising Texas properties, the cost approach is most appropriate for:

Florida's high humidity can contribute to which type of depreciation?

FIRREA (Financial Institutions Reform, Recovery, and Enforcement Act) requires:

Example of economic obsolescence in real estate?

The final appraisal step of weighing different approaches is called:

The appraisal approach that estimates value by comparing a property to similar recently sold properties is the:

In which appraisal approach to value would the value for the land be calculated separately?

The appraisal process which allocates a percentage of a property’s total value to the land and a percentage to the improvements is known as:

Under the replacement cost approach of appraisal, an appraiser is least interested in:

Which appraisal report type do California lenders commonly rely on for single-family residence financing?

An appraiser views the addition of an amenity to an apartment building under which appraisal principle?

When a comparable sale used in an appraisal was not an arm’s length transaction, this affects the:

Compared to other appraisal factors, appraisers generally find the the most difficult calculation to measure precisely.

To determine the accrued depreciation for a property, a buyer’s best resource is a(n):

Valuation method estimates current construction cost, deducts depreciation, adds land value. Used for unique properties when comparables unavailable. This is:

What type of depreciation is the most challenging to correct?

Which of the following statements is least applicable to depreciation?