7 - Overview Of Site Valuation

Question 1

T/F - Raw land is land that is ready to be used for specific purpose

Answer 1

False
A site

7-150

Question 2

_________ states a buyer will not pay more for a given land parcel than the price of acquiring an equally desirable substitute

Answer 2

Substitution

7-151

Question 3

_____________ states that the various site components must be in proper proportion if the optimum site value is to be achieved

Answer 3

Contribution

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Question 4

___________ states that value is created by the expectation of future benefits

Answer 4

Anticipation

7-152

Question 5

Land and supply values being directly influenced by the interaction of buyers and sellers is a principle of _______ & _______

Answer 5

Supply & Demand

7-152

Question 6

The principle of Balance & _____________ states that value is created and maintained when the characteristics of a property conform to the demands of the marketplace

Answer 6

Conformity

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Question 7

__________ value is the increment of value that often occurs when two or more sites are combined to produce greater utility, resulting in a higher productivity or income than could be obtained from the individual smaller sites

Answer 7

Plottage

7-155

Question 8

__________ is the combining of two or more parcels into one ownership or use; it is the process that may create plottage value

Answer 8

Assemblage

7-155

Question 9

__________ land has its own HABU where as __________ land does not have its own HABU

Answer 9

Excess
Surplus

7-157

Question 10

_________ area is the geographical region from which a majority of demand comes from and in which the majority of competitors are located

Answer 10

Market

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Question 11

The _______ improvement is the improvement that takes maximum advantage of a sites potential given market demand; the improvement that represents the highest and best use of the land as though vacant

Answer 11

Ideal

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