A dwelling has a reproduction cost of $625,000. It is 10 years old and has an effective age of 12. Its remaining economic life is estimated to be 48
... [Show More] years. What is the depreciated value of the improvements by the age-life method, before including the site value? CORRECT ANSWERS: 12/(12+48)=0.2; $625,000 x 0.2= 125,000. 650,000-125,000= $500,000
A property contains 3.2 acres and is worth: A. $155,000 as single home site; B. $75,000 per unit as a site for a duplex; or C. $50,000 per acre as a retail site. All uses are physically possible, economically feasible and legally permitted. Which is the highest and best use? CORRECT ANSWERS: C, retail site 75,000 x 2 units= 150,000. 50,000 x 3.2= 160,000.
The credibility of assignment results is always measured in the context of the _______________. CORRECT ANSWERS: intended use
A factory-built house constructed in compliance with the HUD code is _________ home. CORRECT ANSWERS: manufactured
Each written appraisal report must contain the date CORRECT ANSWERS: of the report and the effective date of the appraisal
"The relationship or ratio between the sale price or value of a property and its gross annual rental income" is the definition of CORRECT ANSWERS: gross income multiplier
Which would NOT be an appropriate legal description of a subject property? CORRECT ANSWERS: postal address
J-bolts are used to anchor the _________ to the __________. CORRECT ANSWERS: sill plate, foundation
A 5 year old water heater with an expected life of 12 years and a replacement cost of $825 will have experienced depreciation of $__________. CORRECT ANSWERS: 344.03
When estimating the amount of adjustments for differences among properties, the most important principle is the principle of _______________. CORRECT ANSWERS: contribution
An estimate of remaining economic life is required by CORRECT ANSWERS: VA
Which of the following would NOT be general data? CORRECT ANSWERS: subject property assessment
"A method used to convert an estimate of a single year's income expectancy into an indication of value in one direct step, either by dividing the net income e [Show Less]