Property Valuation
An Alaska property appraised at $520,000 has an outstanding mortgage of $310,000. The owner's equity is:
A$200,000
B$210,000✓ Correct
C$310,000
D$520,000
Explanation
Equity = Appraised value − Mortgage balance. $520,000 − $310,000 = $210,000. Using the values given ($520,000, $310,000), apply the appropriate formula.. The correct answer is $210,000.. This is a common calculation on the Alaska real estate exam.
Related Alaska Property Valuation Questions
- Which of the following statements about appraisal reconciliation is TRUE?
- An Alaskan property with an NOI of $75,000 is valued at $1,000,000. The overall capitalization rate is:
- In Alaska, the value added by a swimming pool to a residential property may be less than its construction cost because of the principle of:
- What does 'plottage value' mean in Alaska real estate?
- In Alaska, a property's 'insurable value' differs from its 'market value' because insurable value:
- In Alaska, an appraiser who inflates an appraisal at the lender's request to make a purchase transaction work is committing:
- In Alaska, 'deterioration' in appraisal refers to which form of depreciation?
- In Alaska, when an appraiser uses 'gross adjustments' to evaluate comparable sales quality, smaller gross adjustments generally indicate:
Practice More Alaska Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Alaska Quiz →