Unit 16 Game

1234567891011
Across
  1. 6. _____ approach; appraisal process that examines sales of similar properties
  2. 7. Increase in value or utility due to consolidation of two or more adjoining lots into one larger lot
  3. 9. Appraisal principle that holds value is created based on the expectation of some future event
  4. 10. Principle that the value of any part of a property is measured by its effect on the value of the whole property
  5. 11. Loss of value to an improvement to real estate because of problems such as changing tastes or poor design is called _____ obsolescence
Down
  1. 1. Most probable price a property would bring in an arm's length transaction under normal market conditions on the open market
  2. 2. Maximum value is created when a property is in harmony with its surroundings
  3. 3. Principle that maximum value of property tends to be set by cost of buying an equally desirable and valuable property
  4. 4. Process of combining two or more adjoining lots into one larger tract
  5. 5. _____ approach; appraisal process used to estimate value of rental property
  6. 8. Reduction in property value due to outside factors (off the property) is called _____ obsolescence