Flashcards - Property Valuation & Appraisal

Flashcards - Property Valuation & Appraisal
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depreciation
Depreciation refers to two aspects of the same concept: * The decrease in value of assets * The allocation of the cost of assets to periods in which the assets are used A method of reallocating the cost of a tangible asset over its useful life span of it being in motion
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cost approach
In real estate appraisal, the cost approach is one of three basic valuation methods
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appraiser
An appraiser , is one who sets a value upon property, real or personal
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appraisal
Real estate appraisal, property valuation or land valuation is the process of developing an opinion of value for real property
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9 cards in set
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appraisal
Real estate appraisal, property valuation or land valuation is the process of developing an opinion of value for real property
appraiser
An appraiser , is one who sets a value upon property, real or personal
cost approach
In real estate appraisal, the cost approach is one of three basic valuation methods
depreciation
Depreciation refers to two aspects of the same concept: * The decrease in value of assets * The allocation of the cost of assets to periods in which the assets are used A method of reallocating the cost of a tangible asset over its useful life span of it being in motion
discounted cash flow
In finance, discounted cash flow analysis is a method of valuing a project, company, or asset using the concepts of the time value of money
income approach
The Income Approach is one of three major groups of methodologies, called valuation approaches, used by appraisers
principle of highest and best use
Highest and best use, or highest or best use , is a concept that originated with early economists such as Irving Fisher , who conceptualized the idea of maximum productivity
siding
Siding and wall cladding is the exterior material applied to the walls of a house or other building meant to shed water, protect the walls from the effects of weather, insulate, and is a key in the aesthetics of the structure
zoning
Zoning describes the control by authority of the use of land, and of the buildings thereon

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