New companies and industries that bring new business and jobs to the area are called what?
Base Companies
A study of supply, demand and other economic conditions in an area is called what?
Market Analysis
A study of the market climate for a specific property or type is referred to as what?
Marketability Study
What economic principle is the Neighborhood Life Cycle primarily based on?
Change
A Supply analysis that identifies properties by type, features and use, which are similar and likely to compete with the subject property is called what?
Market Disaggregation
Brett is appraising a property for a client with the intended use of filing a tax appeal. In this type of assignment, Brett should?
not advocate for the client
The scope of work must include research and analyses necessary to produce what kind of results?
credible
What is the term that describes real estate’s imperfect characteristic of not being able to move from one place to another?
immobility
A detailed survey map of a subdivision or other grouped lots is known as?
plat map
Riparian rights are associated with what type of water?
flowing waters like rivers and streams
A condition, related to a specific assignment, which is contrary to what is known by the appraiser to exist on the effective date but is used for the purpose of analysis, is called what?
Hypothetical Condition
An assumption, directly related to a specific assignment, as of the effective date which, if found to be false, could alter the appraiser’s opinions or conclusions.
Extraordinary Assumption
True or False / According to USPAP the appraiser is required, without fail, to obtain a copy of the actual written sales contract.
False (if available in the normal course of business)
True or False / According to USPAP the analysis of and disclosure of alls ales of the subject property that occurred within a four years prior to the effective date is required.
False ( Three Years)
According to USPAP appraisers are prohibited from accepting assignments with what?
Unacceptable Assignment Conditions
What is the most basic form of co-ownership?
Tenancy in common
The lessor’s (landlord’s) interest in leased property is known as what type of interest?
Answer: a leased fee interest
What are the two major types of estates?
Freehold (indefinite duration) and Leasehold (specific duration)
What do condominium and PUD’s have in common?
HOA’s (Home owners’ association fees)
The time-distance relationship to services between properties and services that people in the market rely on is known as?
linkages