Chapter 6 Geographic ~ Geologic

Chapter 6 Geographic ~ Geologic - 10/4/11 Chapter 6 -...

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Unformatted text preview: 10/4/11 Chapter 6 - Geographic & Geographic & Geological Characteristics Land & Site 10/4/11 11 Chapter 6 - Geographic & 10/4/11 Chapter 6 - Geographic & Important Words and Key Concepts e Site e Artesian Well 1 Excess (Surplus) Land 1 Township Lines 1 Meridian Lines 1 Land 1 Subsoil 1 Site Improvements 1 Surface Water 1 Surplus Land 1 Contour Line 1 Baselines 1 Cul-de-sac 1 Swale 10/4/11 22 Chapter 6 - Geographic & Geological Characteristics Land/Site 10/4/11 Chapter 6 - Geographic & Important Words and Key Concepts ~ Page 2 e Flood Plains 1 Septic System 1 Frontage 1 Footing Drains 1 Geodetic Survey Program 1 Geologic Characteristics 1 Topographical Study 1 Flood Hazard Area 1 Plottage Value 1 Percolation Test 1 Wetland 1 Geographic Characteristics 1 Shallow Well 10/4/11 33 Chapter 6 - Geographic & 10/4/11 Chapter 6 - Geographic & Site Description and Analysis e Because of the fixed location of real estate, location contributes more than any other single factor to a single location, and the value differences between different locations. 1 An accurate legal description using one or more of the three accepted legal descriptions; 1. Lot Block and Tract 2. Metes and Bounds (measurements and distances) 3. Government Survey or Rectangular Survey A detailed review of the physical features 10/4/11 44 Chapter 6 - Geographic & 10/4/11 Chapter 6 - Geographic & Land 1 Land has to do with the surface of the earth, to the center of the earth and ever into the heavens. 1 There are limitations on the ownership of minerals in some areas, and some minerals are incapable until they are mined. Water and the rights to water, under or on top of the land, have many laws to protect the general population. Riparian rights and Littoral rights are all associated with water. Air has certain rights for the owner of land but is also a public domain because of air travel. 10/4/11 55 Chapter 6 - Geographic & 10/4/11 Chapter 6 - Geographic & The Site e The site has to do with the land and the improvements that are on the land. 1 Part of the appraisal might, and sometimes must consider the cost of clearing land, grading an landscaping, drainage, water and sewer connects, including septic systems, electric and gas service, private access streets, alleys drives and sidewalks as part of the site analysis. 10/4/11 66 Chapter 6 - Geographic & 10/4/11 Chapter 6 - Geographic & Real Estate and Real Property e In California we use the terms Real Estate and Real Property to be synonymous, or to mean the same thing. 1 Some states take Real Estate to mean the land and Real Property to mean the land and any improvements. 1 This can cause some difference in reporting but if you are using the Uniform Residential Appraisal Report (URAR) you shouldnt have any conflict because of the different treatment of these terms....
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Chapter 6 Geographic ~ Geologic - 10/4/11 Chapter 6 -...

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