Unlocking the Mystery of Property Prices in Arizona Real Estate

When you’re gearing up for the Arizona Real Estate License exam, there’s one thing you’re bound to encounter—problems that involve pricing properties and understanding their relationships. Let’s dive into a specific example that not only hones your math skills but also helps clarify how property values can fluctuate based on percentages and market conditions. You know what? Knowing this stuff can really boost your confidence as you tackle the exam.

Imagine this scenario: you buy two properties together for $364,600, but there’s a twist—one is priced 12% more than the other. This kind of inquiry could show up on your exam and is a great opportunity to flex those algebra muscles.

First things first, let’s designate the price of the less expensive property as "x." This summit of thought leads us to the more expensive property's price, which we express as "x + 0.12x," turning into "1.12x." Together, these properties add up to $364,600, resulting in the equation:

[ x + 1.12x = 364,600 ]

Combine those terms, and you get:

[ 2.12x = 364,600 ]

Now, take a moment here—while it may seem straightforward, it’s crucial to have a firm grasp on this type of equation, especially since math anxiety can hit hard when you're under exam pressure. Back to the math. To unearth the value of "x," divide both sides by 2.12:

[ x = 364,600 / 2.12 ]

After crunching those numbers, you’ll find that "x" is approximately $171,981. So, the price of the less expensive property? Bada bing, bada boom—it’s $171,981.

This is where it gets fascinating! The breakdown you just did showcases how understanding the percentage increase can make a world of difference in market evaluations. As you practice, remember that it isn't just about memorizing formulas; it’s about grappling with the concepts behind them. Whether you’re entrenched in calculations or busy cramming terminology, keep this case in your back pocket.

Once you understand this logic, you'll be in a great spot for the exam. Each calculation is a stepping stone toward achieving your goal of becoming a licensed real estate agent in Arizona, and whether you’re aiming for your dream career or just side hustling, every bit of knowledge counts. So, ready to take on more scenarios? The world of real estate is at your fingertips.