Exam II SPR 2023.doc 13 T6 10 15. You are appraising a portfolio of 21 privately-owned drug stores, each in a unique market, with each generating observable income streams. There has been an active market in the sale of these sorts of properties, at varying cap rates depending upon the features of the market in which the property is located. Which of the following is likely the best approach used by an appraiser in estimating the value of this portfolio? A) The income approach B) The cost approach C) The market or sales comparison approach D) A combination of A, B and C above E) A mix of B and C, above Covid seems to have been generous with home prices, pushing them upward. Is that true? Has covid caused the higher prices? And, if not, what HAS been going on? (Choose the single BEST response.) (A) Covid is the primary contributor to increasing home prices. (B) Covid is unrelated to increasing home prices. (C) Covid infections, and deaths, are not significantly associated with home prices. (D) As personal income fell before the pandemic, home prices were rising. Interest rates and home prices have been "moving around" lately. In general, what patterns have been observed? (Again, choose the single BEST response.) Interest rates have been stable, or falling, for many months. as house prices have uniformly escalated. Interest rates rose starting in the late spring of 2022, and home prices fell. until recently as rates began to stabilize and home prices stabilized as well. Interest rates have been rising, and home prices have been falling, since early in 2021. Interest rates have been falling, and home prices have been falling. as well, since early in 2022.

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