Reading...
Play button
Play button
Use LEFT and RIGHT arrow keys to navigate between flashcards;
Use UP and DOWN arrow keys to flip the card;
H to show hint;
A reads text to speech;
12 Cards in this Set
- Front
- Back
|
Identify Various careers available in real estate
|
*Brokerage *Appraisal *Property Management *Financing *Subdivision and development *Home Inspection *Counseling *Education *Other Areas i.e. corportae property tax, attorney for corporation
|
|
|
Describe Five Catagories of real property
|
*Residential *Commercial *Industrial *Agricultural *Special Purpose
|
|
|
Explain the operation of supply and demand in the real estate market
|
fWhen supply increases and demand remains stable, prices go down.
When demand increases and supply remains stable, prices go up Uniqueness and immobility are the two characteristics of land that have the most impact on market value |
|
|
Factors Affecting real estate supply are
|
Labor force construction costs government controls, and Government financial policies
|
|
|
Federal Reserve
|
Establishes discount rate of interest for the money it lends to commercial banks. Rate has a direct impact on the interest rates the banks in turn charge to borrowers.
|
|
|
Factors affecting real estate demand are
|
Population, Demographics, and Employment and wage levels
|
|
|
Study vocab for Chapter one listed under my user name ksandypt and listed chapter one
|
Vacab words to study under chapter names
|
|
|
1. A professional estimate of a property's market value, based on established method and using trained professional judgment is performed by a
|
a. real estate broker b. real estate appraiser c. real estate counselor d. home inspector
|
|
|
2. In general, when the supply of a certain commodity increases,
|
a. price tends to rise b. price tends to drop c. demand for it tends to rise d. demand for it tends to drop
|
|
|
3. Which of the following factors primarily affects supply in the real estate market
|
a. population b. demographics c. employment d. government financial policies
|
|
|
4. Which of the following factors is MOST LIKELY to influence demand for real estate?
|
a. the number of real estate brokers in the area b. The number of full-time real estate salespersons in the area c. The wage levels and employment opportunities d. The price of new homes being built in the area
|
|
|
Answers
|
1. b 2.b 3.d 4.c
|
