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Chapter 5

Real Estate Training Institute: Leslie Clauson
Horizontales
The name for sold homes in an appraisal.
Used to determine if an improvement adds or subtracts from value.
Mandatory to create value.
It happens when you buy the smallest house in a neighborhood.
Growth_________Decline and Revitalization
Net income divided by an investors desired percent of return.
________ and demand.
Does not depreciate.
An obsolescence which cannot be cured
Verticales
Comparing equally desirable substitutes to find value
The last stage an appraiser does.
The largest home in a community may suffer from this.
A park which enhances the property value.
What depreciates?
Income approach for residential property.
A tool used by brokers to find a price range for a listing.