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