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Ch 8: Real Property Measurement & Valuation

About This Chapter

This chapter provides definitions and important details about property valuation, property appraisal and BPO in real estate. Review these and other topics to ensure you have a good grasp of real property measurement and valuation.

Real Property Measurement & Valuation - Chapter Summary

Lessons in this chapter simplify the process of understanding real property measurement and valuation concepts. Learn what property means from a legal standpoint, and examine ways real property is valued and measured. Explore these concepts at a pace that is comfortable for you. In no time, you will be ready to:

  • Provide the legal description of property, and discuss its importance
  • List methods for measuring and tools for surveying real property
  • Define property valuation, appraisal and depreciation
  • Interpret the area-regional and neighborhood analysis portion of property appraisal report
  • Describe the analysis of market data when appraising property
  • Share the meaning of BPO in real estate
  • Differentiate between real property and personal property

Review the video and text lessons in this chapter in any sequence and as often as needed to comprehend real property measurement and valuation. Lessons are accessible from any computer, smartphone or tablet. Assess your knowledge by taking short multiple-choice quizzes. A chapter exam is also available to reinforce lesson concepts.

9 Lessons in Chapter 8: Real Property Measurement & Valuation
Test your knowledge with a 30-question chapter practice test
Legal Description of Property: Definition, Importance & Example

1. Legal Description of Property: Definition, Importance & Example

The legal description of a property provides a clear and lawful definition of a property's boundaries. We will cover the importance of this document, the essential elements, and the methods surveyors use to create and confirm legal descriptions.

Tools Used to Survey Real Property

2. Tools Used to Survey Real Property

Some old legal descriptions of property involve chains, links and rods. You'll learn about these ancient surveying tools and how they translate into more conventional and familiar measurements. We'll also look at some of their modern counterparts.

Property Valuation: Definition & Principles

3. Property Valuation: Definition & Principles

Valuing property accurately is very important to sellers, home purchasers, lenders, and real estate investors. In this lesson, you'll learn about property valuation and some of its key principles.

Property Appraisal: Definition, Purpose & Process

4. Property Appraisal: Definition, Purpose & Process

Let's take a look at property appraisal and broad explanations of different approaches. We'll discuss how these approaches work and what purposes they serve, and help understand how they tie into the final reconciliation of value.

Property Depreciation: Definition, Importance & Types

5. Property Depreciation: Definition, Importance & Types

This lesson defines depreciation as it applies to real estate property valuation. We will cover the different types of obsolescence that are factors in depreciation.

Area-Regional & Neighborhood Analysis in Property Appraisal

6. Area-Regional & Neighborhood Analysis in Property Appraisal

In this lesson, you will learn how to interpret the area-regional and neighborhood analysis section in a property appraisal report. Many factors and considerations determine if the current use of the property is the highest and best available.

Market Data Analysis in Property Appraisal: Definition & Factors

7. Market Data Analysis in Property Appraisal: Definition & Factors

Comparative Market Analysis (CMA) is a method for pricing a real estate property that is for sale. Factors that are important in CMA include market area delineation, demand analysis, supply analysis, absorption analysis, vacancy analysis, and market rental analysis.

What is a BPO in Real Estate?

8. What is a BPO in Real Estate?

Before making a decision regarding selling, buying, or renting their home the owner will want to know it's accurate value. A broker price opinion provides an alternative to an appraisal that allows homeowners to learn the value at a low cost.

Real Property and Personal Property: Definition and Differences

9. Real Property and Personal Property: Definition and Differences

Much of business law deals with property. There are actually two different types of property: personal property and real property. This lesson explains the differences between these two types of property.

Chapter Practice Exam
Test your knowledge of this chapter with a 30 question practice chapter exam.
Not Taken
Practice Final Exam
Test your knowledge of the entire course with a 50 question practice final exam.
Not Taken

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