About This Chapter
Understanding Real Estate Value - Chapter Summary
In the real estate world, it's of the utmost importance to have a strong understanding of real estate value. In this chapter, you'll dive into influences on real estate value, different types of real estate value, and much more. After working through these lessons, you can expect to have a clear understanding of the following topics:
- Economic, governmental, and social influences on real estate value
- Different types of real estate value
- Date of value premise in real estate appraisal
- Test, analysis, and application of highest and best use
These educational lessons will help you learn about real estate value at your convenience. Throughout the chapter, you can pause, rewind, or review at any time, in order to learn at your own pace. Each lesson is mobile-friendly, but can also be printed and utilized offline too. After you're finished with each lesson, be sure to take the self-assessment quiz to test what you've learned.
1. Influences on Real Estate Value: Economic, Governmental & Social
Despite real estate being available for purchase, sale or lease all over the world, the value of real estate is mostly controlled by local factors. The area's social, economic, and governmental conditions all contribute to the determination of real estate value.
2. Types of Real Estate Value
There are many ways to determine the value of real estate. Learn how to help your sellers and buyers determine a fair price for the property they are selling or buying.
3. Date of Value Premise in Real Estate Appraisal
The date of value in a real estate appraisal is very important and can be current, retrospective, or prospective. This lesson will explain why each of those dates may be used.
4. Tests of Highest & Best Use in Real Estate
Highest and Best Use is a fundamental principal of real estate valuation. This lesson will go over the four generally accepted tests to find a property's Highest and Best Use.
5. Highest & Best Use: Analysis & Application
In this lesson, you'll learn how to analyze and apply highest and best use property values as determined by the market/marketability and property type.
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Other chapters within the Arizona AQB Certified General Appraiser Exam: Study Guide course
- The Real Estate Market
- Real Estate Investment & Analysis
- Government, Land Use & Regulations in Real Estate
- Transferring Real Property
- Land Descriptions & Surveys
- Forms of Property Ownership
- Advanced Property Ownership Issues
- Land & Site Valuation
- Sales Comparison Approach to Real Estate Valuation
- Cost Approach to Real Estate Valuation
- Income Approach to Real Estate Valuation
- Reconciliation in Real Estate
- Uniform Standards of Professional Appraisal Practice (USPAP)
- Arizona AQB Certified General Appraiser Exam Flashcards