Property Valuation
What is 'neighborhood analysis' in Idaho residential appraisal?
AAnalyzing neighborhood associations
BEvaluating the physical, economic, social, and governmental forces affecting the neighborhood and its impact on property values✓ Correct
CInterviewing residents about their neighborhood
DA crime statistics analysis
Explanation
Neighborhood analysis examines the forces affecting property values within a defined area — physical (land use mix, condition), economic (property values, income levels), social (demographics, neighborhood organizations), and governmental (zoning, tax rates, services).
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Key Terms to Know
Appraisal
A professional estimate of a property's market value prepared by a licensed or certified appraiser.
ZoningLocal government regulations that control land use by dividing areas into zones specifying permitted uses, building sizes, and densities.
Debt-to-Income Ratio (DTI)A lender's measure of a borrower's monthly debt obligations relative to their gross monthly income, used to evaluate loan eligibility.
Capitalization Rate (Cap Rate)A rate used to estimate the value of income-producing property, calculated as Net Operating Income divided by property value.
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