Chapter 2 Flashcards
General Data
Items of information on value influences that derive from social, economic, governmental and environmental forces and originate outside the property being appraised.
Specific Data
Details aabout the property being appraised, comparable sale and rental properties and relevant local market characteristics.
Sources of General Data
- Government
- Trade Associations
- Utility Companies
- School Districts
- Universities
- Departments of transportation
- Planning boards
- Multiple listing services (MLS)
- Chamber of Commerce
Local Influences
Which influences typically exert the greatest presure on property values?
Specific
When completing an appraisal assignment, comparable sales information that the appraiser gathers would be considered ____ data.
General Data
Information on employment and unemployment trends in an area would be considered.
US Bureau of the Census
The largest source for demographic information is?
Microeconomic Analysis/Specific Data Sources
- Deeds
- Location Maps
- Tax Maps
- Flood Maps
- Assessor’s Records
- Title companies
- Zoning ordinances
- MLS
Deed
The deed will provide the following information:
Legal desription of the property Owners of record Easements of record Deed restrictions Chain of title (when the property was purchased and from whom)
Zones A and V
Which zones are identified by FEMA as Special Flood Hazard Areas?
It is important for an appraiser to researc and understand what when doing an appraisal?
Both the Zoning Map and Zoning Ordinance
No
You check the FEMA flood map and the subject property is located in Zone C. Is this a Special Flood Hazard Area (SFHA)?
Which of following items would NOT be typically found by reading the deed for the subject property?
Census tract
Name of the owner of record
Deed restrictions
Legal description
Census Tract
True
True or False? The usefulness of MLS information can be dramatically increased through verification with a selling or listing agent.
Deed
Which would NOT be a possible souce of general data?
