Cubic Foot Factor Method
Along with the square foot factor method, this is the most widely used method for estimating comparable building costs. The cubic foot factor method requires the computation of the cubic contents of a building by multiplying the building area from the outside of the exterior walls times the height of the building. This is used by appraisers to estimate the reproduction costs of a building, For example, if the average cubic foot cost of a certain building type is $20, and the total cubic contents of the building are 5000 cubic feet, then the estimated reproduction cost of the building is $20*5000= $100,000.
Popular Real Estate Terms
Table demonstrating the relationship between the depth of a building lot form the street frontage and its market value. Street frontage is the greatest asset of a land parcel. The ...
The person giving property or establishing a trust. ...
Any written evidence or tangible material which can be reproduced as written material which is coherent and related to the subject at hand. This includes documents, contracts, inscriptions ...
Method of construction where vertical siding is attached to a horizontal framing structure. Often found in the design of agricultural buildings. ...
Founded in 1942 and located in Washington DC, the NAHB has 155,000 members with 824 local groups. Its membership consists of single, multifamily and commercial home builders. The NAHB ...
Present worth of the property which is different than the price paid for it or its book value (cost less accumulated depreciation). The current value may be determined through appraisal. ...
Tax-free status given to certain nonprofit organizations and governmental entities. Churches, charities, and government buildings do not pay property tax because of their tax-free status. ...
group of at least two people or businesses combining to engage in a real estate project that would exceed their individual financial abilities. A syndication allows earning to be ...
Document issued by a public or private institution to perform some activity according to legal requirements. There is usually a license fee. An example is a real estate license. ...
Have a question or comment?
We're here to help.