Ch. 8 - Appraisal Flashcards
What is an acre minus streets, sidewalks, curbs and alleys?
A commercial buildable acre
What is the highest license of an appraiser?
Certified general license
The value of a more expensive residence is reduced by association with many less expensive incentive residences in the same area is called (an over-improvement)?
Principle of Regression
This method is used in all three approaches of appraising, but it is the basis of the market data approach:
The principle of substitution
What are the four essential elements of value?
Demand
Use/ utility
Scarcity
Transferability
What is an added increment of value of several parcels of land under one ownership, as opposed to the same number of parcels under separate ownerships?
What is the process called?
Plottage
Assemblage
What is topography?
The view
It’s a cleaning area in which property values are seriously affected by destructive economic
Blighted area
Increase in value due to inflation, increase in population, etc.
Unearned increment
What is a joist?
Parallel beams
The term that correctly identifies preliminary architectural drawings and sketches it is elevations, plot plans, etc.
Schematics
Unconventional construction, the studs of the interior wall are supported by and rest on the ______.
Soleplate
