Select the item that corresponds the statement.

Replacement cost, Real estate, Depreciation, External obsolescence, Sales comparison approach, Lease fee estate, Going concern, Comparable data, Intrinsic value, Net operating income, Obsolescence, Book value, depreciation amount, cost approach.

1. Involves judgment as to the similarity of the subject property with respect to many value factors such as location, size, contract rent levels, quality of construction, reputation and prestige, age, and condition.

2. The ownership interest that the landlord or lessor maintains in a property under a lease with the rights of use and occupancy being conveyed or granted to a tenant or lessee.

3. The amount considered on the basis of an evaluation of available facts, to be the ―true‖ or ―real‖ worth of an item.

4. Changes in competition or in surrounding land uses like an industrial plant near a residential area; This results to loss in value of a real estate.

5. Cost estimate that envisions constructing a structure of comparable utility, employing the design and materials that are currently used in the market

6. The Valuer‘s estimate is based on the reproduction or replacement cost of the subject property or asset, less total (accrued) depreciation.

7. A loss in value due to a decrease in the usefulness of property caused by decay, changes in technology, people‘s behavioral patterns and tastes, or environmental changes.

8. Refers to the adjustments made to the costs of reproducing or replacing the asset to reflect physical deterioration and functional (technical) and economic (external) obsolescence in order to estimate the value of the asset

9. Data generally used in a valuation analysis to develop a value estimates; comparable data relate to properties that characteristics similar to those of the property being valued (the subject property). Such data include sales prices, rents, income and expenses, and market derived capitalization and yield/discount rates.

10. Results from the subtraction of all vacancy and expenses from PGI

11. Land and all things that are a natural part of the land, e.g., trees and minerals, as well as things that are attached to the land by people, e.g., buildings and site improvements.

12. Represents the wasting element of the asset, the balance being the residual amount.

13. Charge made against income to reflect the systematic allocation of the depreciable amount of an asset over its useful life to the entity.

14. Serves as a valuation premise, under which Valuers and accountants consider a business as an established entity that will continue in operation indefinitely.

15. The capitalized cost of an asset less accumulated depreciated, depletion or amortization as it appears on the account books of the business.