Property Valuation
A residential property's square footage of gross living area (GLA) is measured:
AIncluding basement, garage, and all enclosed areas
BAbove grade (above ground) only for finished living space✓ Correct
CBy the total lot area plus building footprint
DBased on the number of bedrooms times a standard room size
Explanation
For residential appraisals, GLA (gross living area) includes above-grade finished living space only. Basements (even if finished) are typically measured and reported separately.
Related Alabama Property Valuation Questions
- Which type of depreciation is caused by factors outside the property, such as a nearby industrial facility?
- Effective gross income (EGI) for an investment property is calculated as:
- In the cost approach, the term 'reproduction cost' means:
- What is 'functional obsolescence' in property appraisal?
- When an appraiser states a value 'as of' a certain date, this is called the:
- Gross Rent Multiplier (GRM) is calculated as:
- An appraiser notes a comparable property sold for $300,000. The comparable has a pool, but the subject does not. The pool is estimated to contribute $15,000 in value. The appraiser should:
- When two or more appraisal approaches are used, the appraiser assigns weight to each method through a process called:
Practice More Alabama Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Alabama Quiz →