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Question
The sales price chart shown below suggests an average monthly increase of about one percent for the area under study.| Month | Average Price |
| April | $170,000 |
| May | $171,700 |
| June | $173,500 |
| July | $174,000 |
| August | $176,000 |
| September | $178,750 |
| October | $180,500 |
Answer
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Related questions
Q:
In a recent appraisal of a three bedroom home in a good location, the appraiser has analyzed three comparable sales. A summary follows:DataComparable #1 Comparable #2 Comparable #3Price paid$250,000$225,000$295,000LocationInferior EqualSuperior Lot sizeLarger than subject Smaller than subjectSmaller than subjectAmenities & ConditionEqual to subjectSuperior to subjectSuperior to subjectDollar Adjustments Indicated by Market StudyLocation difference = $30,000; Lot size difference = $25,000;Amenities and condition difference = $10,000;Problem:Relying upon the comparables and the adjustments indicated, what is the best value conclusion for the subject property?a. $220,000 b. $240,000c. $255,000 d. $270,000
Q:
Which of these procedures would be recommended when adjusting the sales of six-room houses with large size differences?
a. Apply the average square foot price derived from sales
b. Use the median price per room
c. Adjust each sale by the cost of the size difference
d. Graph the sales to explore the effect of size upon selling price
Q:
In the sales comparison approach, the price of a comparable property should be adjusted for which of the following?
a. Favorable or unfavorable financing
b. Cash sale
c. Typical third-party financing
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Q:
Real estate markets are considered to be imperfect because
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Q:
To capitalize income, you could
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Q:
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Q:
Which type of appraisals generally requires a state license or certification?
a. Those made to support federally-insured real estate loans
b. Private income tax appraisals
c. Appraisals made to settle divorce cases
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Q:
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Q:
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Q:
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Q:
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Q:
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Q:
A 10-unit property has a gross income of $8,000 per month. What is its probable value if the appropriate annual GIM is 8.0, based on analysis of comparable sales?
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Q:
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Q:
A 20-year old property sells for $240,000. If the lot is worth $100,000 and the cost new for the building is $200,000, what is the annual rate of depreciation as indicated by the market?a. 1.5% b. 2%c. 5% d. 1/2%
Q:
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Q:
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Q:
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Q:
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Q:
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b. Within 3 years for all other property
c. Within 3 years
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Q:
The best test of functional utility in a structure is its
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Q:
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b. Type of basic frame, wall, floor and roof construction
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Q:
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Q:
Which of the following is not a characteristic of a perfect market?
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b. Products are similar and interchangeable
c. Government plays a large role
d. Items are small and inexpensive
Q:
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b. The adjustment of sales and rental data
c. Defining the highest and best use of subject property
d. All of the above
Q:
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Q:
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Q:
If the annual gross income multiplier is 8.0 and monthly rents are $5,000, what is the indicated value of the subject property?a. $400,000 b. $ 40,000c. $480,000 d. $750,000
Q:
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b. Gross income less vacancy and collection losses
c. Gross income less allowable expenses
d. None of the above
Q:
Of the following, which does not suggest functional obsolescence?
a. A conforming house in poor condition
b. An illegal structure
c. A misplaced improvement
d. An over-improvement