In the URAR form, what does the appraiser indicate in the 'Subject' column for site size?
Correct Answer
A) The actual site size of the subject property
The Subject column in the URAR should contain the actual characteristics of the subject property being appraised. For site size, this means the actual square footage or acreage of the subject's lot.
Why This Is the Correct Answer
Option A is correct because the Subject column must contain only the actual, measured characteristics of the property being appraised. For site size, this means the precise square footage or acreage of the subject property's lot as determined through survey, public records, or field measurement. This factual data serves as the foundation for all comparative analysis and adjustments made in the sales comparison approach. Any deviation from actual measurements would compromise the integrity and reliability of the entire appraisal report.
Why the Other Options Are Wrong
Option B: The typical site size for the neighborhood
Option B is incorrect because typical neighborhood site sizes belong in the neighborhood description section, not the Subject column. The Subject column is reserved exclusively for the actual characteristics of the specific property being appraised, not general neighborhood trends or averages.
Option C: The optimal site size for highest and best use
Option C is incorrect because optimal site size for highest and best use is an analytical conclusion that would be discussed in the highest and best use analysis section. The Subject column requires factual data about existing conditions, not theoretical or optimal scenarios.
Option D: The average of the comparable sales' site sizes
Option D is incorrect because averaging comparable sales data is part of the adjustment and reconciliation process, not a characteristic of the subject property itself. The Subject column must reflect only the actual features of the property being appraised, independent of comparable properties.
Subject = Specific Facts
Remember 'Subject Stays Specific' - the Subject column contains only the Specific, actual facts about the property being appraised, never averages, estimates, or comparisons.
How to use: When you see any question about what goes in the Subject column of URAR, immediately think 'Specific facts only' and look for the answer that describes actual characteristics of the subject property itself.
Exam Tip
On exam questions about URAR form completion, always distinguish between what describes the actual subject property versus what involves analysis, comparisons, or neighborhood data.
Common Mistakes to Avoid
- -Entering typical or average neighborhood data in the Subject column
- -Confusing subject characteristics with comparable property data
- -Using estimated rather than actual measured dimensions
Concept Deep Dive
Analysis
The URAR (Uniform Residential Appraisal Report) form is structured with distinct columns that serve specific purposes in the appraisal process. The 'Subject' column is dedicated exclusively to documenting the actual, factual characteristics of the property being appraised. This includes physical attributes like site size, building square footage, room counts, and other measurable features. The subject column serves as the baseline against which comparable properties are analyzed, making accuracy in reporting actual conditions essential for a credible appraisal.
Background Knowledge
The URAR form follows a standardized format where the Subject column contains only factual data about the property being appraised, while comparable sales are listed in separate columns for analysis. Understanding this structure is fundamental to completing appraisal reports correctly and maintaining professional standards.
Real-World Application
When completing a URAR, an appraiser measures or verifies the subject lot as 0.25 acres from the survey. Even if neighborhood lots typically range from 0.15-0.35 acres, the appraiser enters exactly 0.25 acres in the Subject column, then uses the neighborhood range for context in selecting and analyzing comparable sales.
More Report Writing Questions
Under FIRREA, which federal agency has the authority to set minimum standards for real estate appraisals in federally related transactions?
What is the minimum transaction threshold for requiring a state licensed or certified appraiser under Title XI for most federally related transactions?
The Dodd-Frank Act established which requirement specifically related to appraisal independence?
Which of the following is NOT a responsibility of the Appraisal Subcommittee (ASC)?
State appraiser regulatory agencies are primarily responsible for which of the following functions?
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