Best answer: Which of these factors most likely influences the demand for real estate?

Which of the following factors can impact the value of real estate?

When determining the value of your home, be sure to consider the most important factors: its location, size, comps, finishes, renovations, condition and school zone. These seven features significantly impact the value of your property.

Which profession is responsible for determining a property’s market value based on established guidelines?

Terms in this set (20) A professional estimate of a property’s market value, based on established methods and using trained, professional judgment, is performed by a: real estate broker.

Which term refers to working with the parties in negotiating the sale rental or purchase of real estate?

SALESPERSON. ACTS AS A POINT OF CONTACT BETWEEN TWO OR MORE PEOPLE NEGOTIATING THE SALE, PURCHASE, OR RENTAL OF PROPERTY. BROKER.

When demand for a commodity decreases and supply remains constant?

If demand increases and supply remains unchanged, a shortage occurs, leading to a higher equilibrium price. If demand decreases and supply remains unchanged, a surplus occurs, leading to a lower equilibrium price. If demand remains unchanged and supply increases, a surplus occurs, leading to a lower equilibrium price.

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What are the four factors that influence value?

The current and future importance consumers place on the four factors of value (Desire, Utility, Scarcity, and Effective Purchasing Power) represents Demand and Supply of the product or service.

Which method of legal description is the earliest?

system of legal description is the oldest type. It relies on a property’s physical features to determine the boundaries and measurements of the parcel. A description is usually based upon a survey and starts at a designated place on the parcel, called the Point of Beginning (POB).

What is the key to an accurate appraisal?

what is the key to an accurate appraisal? no physical or economic condition remains constant… natural phenomena, market demands, etc. an estimate of value obtained by comparing the property being appraised with recently sold properties similar to the subject property.

What is most accurate regarding valuation processes?

An estimate of a property’s value by an appraiser who is usually presumed to be expert in his work. A valuation placed upon property by a public officer or a board, as a basis for taxation. … This method works best when the improvements are relatively new and estimates of depreciation are thus more likely to be accurate.

What has the greatest impact on the value of a property?

A home’s size has a major influence on its value, with some prospective homebuyers looking specifically at price per square foot to filter out this effect and determine value. Bigger houses tend to sell for higher prices, of course.

What is another name for property manager?

Real Property Administrator (RPA) Facilities Management Administrator (FMA) Systems Maintenance Administrator (SMA)

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