Re Economics questions

46. Which of the following sets of words describes the properties that must be involved in a tax-deferred exchanges under Section $1031 of the Internal Revenue Code? Like kind Not-for-profit Senior housing Low-income housing 49. A property is listed for sale at $235,000. A buyer's offer of $220,000 is rejected by the seller. Six months later, the seller reduces the price to $225,000. Another buyer offers $210,000 and the seller accepts. The property is subsequently appraised at $215,000. Which of these figures below accurately represents the property's market value? $210,000 $215,000 $225,000 $235,000 52. When using a comparable property for an appraisal, the appraiser is also responsible to do what else? Have a professional relationship with the principle in that transaction. Find a way to get the value that the Realtor wants. They must at least drive by the comparable property. Speak to the present owner of the comparable property. 54. The Greenville Theatre Building is considered a premier example of external ornamentation. Carved marble gargoyles and granite baskets of glazed terra cotta fruit decorate the entire front of the building. Unfortunately, increased automobile traffic in the downtown area has resulted in air pollution that has dissolved much of the intricate detail work. The cost of restoring the front of the building is roughly five times the building's present value. These facts describe which of the following? Curable external obsolescence Incurable functional obsolescence Incurable physical deterioration Curable external deterioration