Part 13 Land or Site Valuation

Question 1

Which valuation method is the preferred method when adequate data is available?

Answer 1

The Sales comparison

13-212

Question 2

____________ of comparison are the characteristics or attributes of properties and transactions that cause the prices of real property to vary

Answer 2

Elements

13-213

Question 3

__________ value is the increment of value that often occurs when two or more sites are combined to produce greater quality

Answer 3

Plottage

13-214

Question 4

The process that creates plottage is called:

Answer 4

Assemblage

13-214

Question 5

S________
S________
I________
I________

Answer 5

Superior
Subtract
Inferior
Increase

13-218

Question 6

____________ is a method of estimating land value in which the depreciated cost of the improvements on an improved property is calculated and deducted from the total sale price to arrive at an estimated sale price for the land

Answer 6

Extraction

13-218

Question 7

Extraction steps
1 - Find a ________ sale
2 - Investigate the __________
3 - Develop __________ costs for the improvements
4 - Deduct the _________ cost from the sale price

Answer 7

1 - Comparable
2 - Improvements
3 - Depreciated
4 - Depreciated

13-219

Question 8

____________ is a method of estimating land value in which sales of improved properties are analyzed to establish a typical ratio of land value to total property value and this ratio is applied to the property being appraised or the comparable sale being analyzed

Answer 8

Allocation

13-219