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The concepts of land are Correct Answer-Legal, geographic and environmental, economic, and social. For appraisal purposes, market value may be defined as Correct Answer-The most probable selling price Appraisal is Correct Answer-The act or process of developing an opinion of value. What is Chattel? Correct Answer-Personal property is generally considered property that is movable,[1] as opposed to real property or real estate. What is a fixture? Correct Answer-any physical property th...

When estimating the market value of an income-producing property, the appraiser will not consider: Correct Answer-Income Taxes attributable 5. In income capitalization, value is measured as the present worth of the: Correct Answer-net operating income + the reversion 6. Income capitalization techniques are not typically used in valuing: Correct Answer-Properties that do not generate Income 7. The monthly rental being paid for a comparable rental property is called: Correct Answer-contra...

The term "real estate" can be used 3 ways: Correct Answer-1. Tangible Asset 2. An industry and profession 3. A bundle of rights Real Estate as a tangible asset Correct Answer--Improvements on the land -Improvements to the land -"Raw" Land Improvements to the land include... Correct Answer-Excavation and fill, sewers and other utilities, roads and driveways How much of the world's wealth is made up by Real Estate? Correct Answer-one fourth Real Estate generates ___% of Americ...

Which is NOT a method the federal government uses to influence the real estate market? through fair housing laws. by granting housing subsidies through income tax incentives. by regulating building codes. Correct Answer-by regulating building codes. Real estate markets differ from other asset classes by having all of the following characteristics except: High transaction costs. Integrated market. Heterogeneous product. Local market. Correct Answer-Integrated mark...

Solutions Law: Correct Answer-a body of rules of action or conduct prescribed by controlling authority and having binding legal force. Public Law: Correct Answer-a law that applies generally to the people of a nation or of a state. Private Law: Correct Answer-the law governing relations between private individuals. Statutory Law Correct Answer-an act of a legislative body declaring, commanding, or prohibiting something Administrative Law: Correct Answer-the body of law created by ad...

user market Correct Answer-A market where tenants negotiate rent and other terms with property owners or their managers is referred to as a: Homogeneous product Correct Answer-Real estate markets differ from other asset classes by having all of the following characteristics except: Real Estate constitutes one-fourth of the world's wealth Correct Answer-All of the following statements define the role of Real Estate in our economy except raw land Correct Answer-Land without any improveme...

Expense stops protect the lessee from unexpected changes in market rents. Correct Answer-False A gross lease is one in which the tenant only pays rent, and the owner of the property pays the operating expenses and provides all services. Correct Answer-True The use of a CPI index in a lease contract shifts risk to the tenant. Correct Answer-True Free rent is a concession that a building owner may offer. Correct Answer-True The existing stock of space cannot be adjusted in the short ru...

users of real estate Correct Answer-Tenant or occupant. An entity or persons who use a certain premise. Value Determination Correct Answer-Value is entirely derived by how a piece of real estate can be used or what can be extracted. uses of real estate Correct Answer-Residential, business, retail, public, infrastructure. real property Correct Answer-rights associated with ownership of land and all permanent attachments to land. personal property Correct Answer-objects that are not pe...

Lockout provisions are primarily intended to reduce the lender's Correct Answer-Reinvestment Risk Which of the following repayment mechanisms is NOT used for long term commercial mortgages? Correct Answer-Alt-A Which mortgage type is the most commonly used instrument to finance commercial property? Correct Answer-Balloon mortgage Which financing structure provides the lender with a portion of the cash flows from operation as well as scheduled mortgage payments? Correct Answer-Joint-Ven...

The element of an adjustable interest rate that is the "moving part" is the: A. Teaser rate B. Index C. Margin D. Adjustment period E. Adjustment caps Correct Answer-B. Index the index rate represents the lenders cost of funds. the index rate is determined by the market, whereas the other answers are all fixed and specified in the note. Suppose a bank recognizes substantial deterioration in a borrowers credit score and notifies him that he must pay his home equity line of credit in f...