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The economic principle stating that the value of a property tends to be set by the price that would be paid to acquire a property of similar utility and desirability is

The pie chart below represents Kathleen’s weekly budget for food. She spends $91.50 dollars on lunch, $82.50 on breakfast, $71.50 on snacks, and $165.00 on dinner. Use the pie chart to answer the following question. What percent of Kathleen’s budget is spent on snacks? (round to nearest tenth if needed) 0325ex3q13.png    

Which of the following is an example of a loss in value to the subject due to functional obsolescence?

In a soft market, a landlord accepted a new tenant with a 60-month lease at $5,000 per month but have the new tenant six months of free rent.  Using the average rent method, what is the effective monthly rent?

Direct costs are

The final opinion of value must be

Appraisers who use residential real estate appraisal forms

The subject property is selling for $455,000, and the seller is paying $15,000 in financing concessions.  Which of the following statements is correct?

A tenant has a lease that states the base rent is $5,000 per month plus 3% of the sales above $50,000 in gross sales per month.  The tenant’s sales last year were $850,000.  How much rent was paid last year?

What resale price is necessary to achieve a yield rate of 11% on the investment, given the following information:  Sale price = $150,000; Net Operating Income (level) = $7,000; Projection Period = 5 years.