2. “Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner Real Estate QUIZMASTER 100 200 300 400 500 QuantitativeAnalyticalNumericalMiscellaneous Adjusting the Comps

3. “Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner Real Estate QUIZMASTER 100 200 300 400 500 QuantitativeAnalyticalNumericalMiscellaneous Adjusting the Comps

4. “Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner Quantitative for 100 The minimum number of comps is ________ on a form report

5. “Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner Quantitative for 200 New properties generally command a premium in the market of ________ over resales (keeping all else the same)

6. “Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner Quantitative for 300 If there are three comps, then any weight that is less than _________ means the comp is not valid comp

7. “Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner Quantitative for 400 Quality adjustments are difficult and subjective and should not involve more than _____ of adjusted selling price

8. “Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner Quantitative for 500 If a multiple regression statistical model is used where there is no qualitative screening selection process then the minimum sample size would be _______

9. “Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner Analytical for 100 A property sold at a time of market _____ volatility should not be considered a valid comp

10. “Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner Analytical for 200 While adjusting the comps to make the price equivalent to subject property, _______ has the maximum impact

11. “Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner Analytical for 300 Regulation for lenders restricts appraisers from giving ____ intervals of the market value of subject property

12. “Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner While adjusting the comps to make the market value identical to the subject property the first adjustment should be for ______ Analytical for 400

13. “Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner DAILY DOUBLE

14. “Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner Daily Double Analytical for 500 Mass appraisal techniques work well as long as there are not too many ________ in some of the sales

15. “Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner _____ adjustments are based on units of comparison Adjusting the Comps for 100

16. “Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner Adjusting the Comps for 200 _____ adjustments are based on significant features within either the subject property or the comp

17. “Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner ______ adjustments relate to the condition of the improvements Adjusting the Comps for 300

18. “Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner Adjusting the Comps for 400 Ideally, a _______ analysis is used to make the Location and Views adjustment

19. “Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner Adjusting the Comps for 500 Information on historical selling prices (recent & prior) are essential to adjust comps for _____

20. “Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner Numerical for 100 In an FHA financing situation, a buyer is putting down $4745 on a $91,835 home, and the lender requires 3 points to be paid at closing. The net price received is equivalent to _____ for the seller

21. “Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner Numerical for 200 In an FHA financing situation, a buyer is putting down $4745 on a $91,835 home, and the lender requires 3 points to be paid at closing, The mortgage is of the value of _____

22. “Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner Numerical for 300 If there are 3 comps, then any weight that is more than ___ places a more than reasonable reliance on the comp

23. “Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner Numerical for 400 T ypical mortgage rates are 8.5% and the seller decides to provide a mortgage loan for a 75% LTV mortgage at 7.5% for three years on a house of value $200,000. What is the approximate amount of money saved by the buyer in the first year?

24. “Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner Numerical for 500 In a linear regression model, the coefficients of the area and “number of baths” are $100 and $1,500. If the value estimate of a 2,000 SF property with 2 bedrooms and 2 baths is $213,000, then the coefficient of the “number of bedrooms” variable will be _____ ignoring everything else.

25. “Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner Miscellaneous for 100 The more sales observations available, the ____ the analyst can define a submarket

26. “Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner Miscellaneous for 200 A set of properties that would be considered substitutes in the mind of the typical buyer of such property

27. “Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner Miscellaneous for 300 G I S

28. “Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner Miscellaneous for 400 A V M

29. “Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner Miscellaneous for 500 If an appraiser believes the market has been constant in real terms then the comp would simply be adjusted for inflation represented by the ________