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9 Cards in this Set
- Front
- Back
- 3rd side (hint)
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Real Estate Characteristics |
Scarcity/Situs/Fixity/Modifications |
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Physical |
Indestructability / Immobility, Nonhomogeneity |
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Scarcity |
The supply of real estate is limited. |
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Modification (Improvement) |
Change in a parcel of land affect its value. |
Favorable or Unfavorable |
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Permanence of Investment (Fixity) |
Investments in real estate are long term. |
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Area preference ( Situs ) |
Refers to people preference for certain areas. |
Location |
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Immobility |
The geographical location of the property always remains the same. |
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Indestructibility |
Land cannot be destroyed or worn out. |
Also called durability |
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Nonhomogeneity (uniqueness) |
No parcels of real estate are exactly alike. |
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