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17 Cards in this Set
- Front
- Back
- 3rd side (hint)
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The fact that land is influenced by changes in the surrounding area describes? |
Immobility of real estate |
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Which of the following is a physical characteristic of land |
The fact that real estate is nonhomogeneous |
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The Economic Characteristics of Real Estate include all of the following except |
There is no relationship between supply, demand, and price |
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What are the factors that DO NOT influence demand? |
Availability of land |
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400 Units are rented out of 450 total units. What is the occupancy rate? |
89% |
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Government controls influence the market through all of the following except |
The value of a site in its current highest and best use |
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The occupancy rate of Fred's complex was 75%. There were 312 units. How many units were filled? |
234 |
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Market Indicators include all of the following except |
Depreciation |
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Supply is described as |
How much real estate is available at any one time |
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Rusty managed an apartment building that had 25 total units. 20 of the units were rented. Calculate the vacancy rate. |
20% |
[Section 15 Slide 73] 5 unoccupied (vacant) units / 25 total units= .2 or 20% vacancy rate |
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Demand for Real Estate is inverse to price. As the price comes down demand rises. As the price rises the demand goes down |
True |
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Nonhomogeneous means that no two parcels are alike. |
True |
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Real estate is generally quick to respond to changes in supply and demand. |
False |
Real estate is generally slow to respond to changes in supply and demand. |
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A buyers market exists when there are more buyers (demand) than available real estate for sale. |
False |
A sellers market exists when there are more buyers (demand) than available real estate for sale. |
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The definition of Situs involves a buyer's personal preference for Location, Accessibility, and Features. |
True |
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A physical characteristic of real estate is the fact that real estate is immobile. Simply put, it doesn't move. |
True |
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The entire property including building structures and the land are calculated into depreciation. |
False |
Question Feedback [Section 15 Slide 32] Land is durable and is not calculated into depreciation formulas.
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