What is an example of general data on a subject property?

General data concerns influences that are a little further removed from a subject property. General data tends to influence all properties in an area equally. For example, the tax rates in a town impact equally across the board on all properties in that taxing jurisdiction.

What is general data in real estate?

The background information gathered on the property to conduct an appraisal is divided into two categories: General data: Information on the region, city and neighborhood surrounding the property; and. Specific data: Information on the location, lot and improvements.

What is considered general data?

General data, which affect values on national, state/regional, or neighborhood levels. Specific data, about the site, title, and improvements of the property. Comparative data, which regards recent sales, cost, and income information for similar properties.

Which of the following is a piece of general data an appraiser may gather?

Which of the following is a piece of GENERAL data an appraiser may gather? Population size. How many parties does a mortgage involve?

What does the term general data refer to quizlet?

General data is information concerning matters outside the subject property that have an impact on its value, such as the economic situation in the community. An appraiser performs a neighborhood analysis to evaluate how the neighborhood affects the subject property's value. Specific Data.

Module 1: (4) What are the rights of the data subject and when can they be used?

What is the value of a property if the net operating income is $45600 and the cap rate is 20 %?

What is the value of a property if the net operating income is $45,600 and a cap rate of 20%? Using the formula: value (V) = Net operating income (I) ÷ capitalization rate (R), V = $45,600 ÷ 0.20. This gives you $228,000 in value.

What is specific data in appraisal?

Specific data are details about the property being appraised (the subject property) and comparable properties that have been sold or leased in the local market. Land and building descriptions are specific data that help an appraiser to select comparable sales and rentals.

What two types of data does an appraiser gather?

There are generally two types of data that an appraiser will collect before making their evaluation: specific data and general data. Specific data refers to information gathered on the home itself. The home's location, amenities, upgrades, size and other factors are all considered specific data.

What types of data are always needed to complete an appraisal?

Appraiser must collect both supply and demand data. Supply data : May include number of existing/proposed properties on the market.

What information should be contained in an appraisal report?

What information should be contained in an appraisal report? A property appraisal report will generally include the real estate agent's estimated value of your property based on their knowledge of the area, the current market, and the property itself.

How is property valuation calculated?

How do I estimate my property value?

How do you evaluate a property?

The main factors in determining the value of a property are the selling price of other properties in the area, and the price at which the property in question was previously sold for. The advice of estate agents is invaluable in determining a property's estimated market value, and what its price tag should be.

Which of these describes the method for determining the indicated value of a subject property when a licensee performs a market analysis?

Which of these describes the method for determining the indicated value of a subject property when a licensee performs a market analysis? When performing a market analysis, the most recent sales price of a comparable ± adjustments = the indicated value of the subject property.

What are the three types of appraisals?

There are three primary types of real estate appraisals that may be used, including the "cost approach," the "sales comparison approach," and the "income capitalization approach."

What will fail a home appraisal?

The home's overall condition and any home improvements made since the last date of purchase. The number of bedrooms and bathrooms compared to other neighborhood properties as well as amenities like fireplaces, decks, bonus rooms, garages, and landscaping. The lot size and neighborhood zoning restrictions.

What items must be included in evaluations?

An evaluation should include sufficient information to identify the property, address the property's actual physical condition, and detail the analysis, assumptions, and conclusions that support the market value conclusion. The level of detail documented in the evaluation should reflect the risk in the transaction.

What should you not say to an appraiser?

Just keep your communication to the appraiser about the facts of the home and neighborhood, how you priced the house, and any other relevant information you think the appraiser should know. And remember, don't discuss value. Don't pressure the appraiser to 'hit the value' and you'll be fine.

What type of property valuation is most frequently performed by real estate salespersons?

Market value is an estimate of the price at which a property will sell at a particular time. This type of value is the one generally sought in appraisals and used in brokers' estimates of value.

When verifying data should an appraiser encounter conflicting information he or she must?

When verifying data, should an appraiser encounter conflicting information, he or she must: determine which source is more reliable and give it more credence.

What parameters do appraisers typically use to determine the value of a property using the sales comparison approach?

The Sales Comparison Approach estimates value based upon the price, in the local market, necessary to acquire a property of similar location, quality, size, age, and condition.

What factors determine the value of a house?

Are there sources of data in appraisal?

Local government archives can provide extremely accurate, reliable, and factual data on real property taxes, deed information, and mortgage information including lien data to help build your appraisal.

What hurts a home appraisal?

Things that can hurt a home appraisal

A cluttered yard, bad paint job, overgrown grass and an overall neglected aesthetic may hurt your home appraisal. Broken appliances and outdated systems. By systems we mean plumbing, heating and cooling, and electrical systems.