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Appraisal Exam III Keyword List

Locational obsolescence

adjusted sale price

annual sinking fund reserve for replacements

balance remaining on a loan

buyer's market

comparative unit

conformity

correlating valuation approaches

cost estimate

cost to cure

cost to reproduce or replace

Cost indexes

curable

depreciation

economic obsolescence

effective age

estimating the approximate date of construction

external obsolescence

External obsolescence

footing and piling

form report

functional obsolescence

highest and best use

Internal obsolescence

letter report

loan amortization

locational deterioration

market conditions adjustment

market extraction of adjustments

Market value

narrative report

operating expenses

oral report

physical deterioration

physical life

Physical deterioration

piers

points charge

present value of a lump sum

principle of anticipation

principle of balance

principle of increasing and decreasing returns to scale

principle of substitution

principle of supply and demand

progression

quantity survey

regression

remaining economic life

sales-comparison approach

seller's market

size of payment

slab construction

square footage of a home

substitution

types of wiring

Uniform Standards of Professional Appraisal Practice

unit-in-place

units of comparison

value in exchange

value in use