Real Estate Math
A West Virginia home was purchased for $140,000 and sold 5 years later for $175,000. What was the total appreciation percentage?
A20%
B25%✓ Correct
C35%
D15%
Explanation
Appreciation = ($175,000 - $140,000) / $140,000 = $35,000 / $140,000 = 0.25 = 25%. Using the values given ($140,000, $175,000), apply the appropriate formula.. The correct answer is 25%.. This is a common calculation on the West Virginia real estate exam.
Related West Virginia Real Estate Math Questions
- A West Virginia property sold for $195,000, which was 3% more than its appraised value. What was the appraised value?
- A West Virginia property sells for $175,000. The seller agrees to pay a 5.5% commission. What is the total commission paid?
- A West Virginia buyer's loan has a principal balance of $160,000 at 5% annual interest. What is the interest portion of the first monthly payment?
- A West Virginia home's assessed value increased from $120,000 to $144,000. What is the percentage increase in assessed value?
- A West Virginia investor buys a foreclosed property for $85,000, spends $35,000 on repairs, and sells it for $155,000. Ignoring closing costs, what is the gross profit?
- A West Virginia property is appraised at $175,000. The buyer obtains an 80% LTV loan. What is the loan amount?
- A West Virginia property owner pays $480 per year in property taxes. The millage rate is 40 mills ($40 per $1,000). What is the assessed value?
- A West Virginia buyer qualifies for a maximum monthly mortgage payment of $1,200. At an interest rate of 6% for 30 years, the payment factor is $5.99 per $1,000 of loan. What is the maximum loan amount the buyer can qualify for?
Practice More West Virginia Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free West Virginia Quiz →