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24 Cards in this Set
- Front
- Back
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affordability index
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shows how many households wil be able to afford a median-priced home. e.g ai < 19 means less than 1 in 5 households able to purchase median-priced house.
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appreciation
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1) an increase in the worth or value of property
2) the increase in market value of real estate 3) an increase in property value with the value of time |
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black gold
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oil
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C.A.R
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The California Association of REALTORS is a trade association with more than 105,000 members and is dedicated to the advancement of professionalism in real estate
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capitalism
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is an economic system in which most of the economy's resources are privately owned and managed.
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demographics
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information from a variety of sources used to create a broad profile of any community
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diversity
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various groups of different nationalities living in
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housing inventory
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housing units that are available for sale or in the process of being made ready for sale.
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inflation
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increase in the general price level of goods and services
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median home price
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price that is midway between the least expensive and most expensive home sold in an area during a given period of time
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mortgage interest rate
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determine the amount of a loan a borrower can get
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net worth
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value of all assets minus all liabilities
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trade association
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a voluntary nonprofit organization of independant and competing business units engaged in the same industry or trade, formed to help solve industry problems, promote progress and enhance service.
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unemployment rate
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percentage of people classified as unemployed as compared to the total labor force
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California has the 5th largest economy in the world. Which of following countries have economies larger than California?
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United States, Japan, Germany, and United Kingdom
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The most populous state in the country is
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California with over 35 million people
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In California, 98% of the employers are
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small business owners
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An economic system in which most of the economy's resources are privately owned and managed is called
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capitalism
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The increase in market value of real estate defines
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appreciation
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A decrease in purchasing power of the dollar describes
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inflation
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The real estate housing market is influenced by
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a. inventory of available housing
b. affordability of housing c. mortgage interest rate |
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the best housing market would be created by all of the following except:
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a low affordablity index
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The price that is midway between the least expensive and most expensive home sold in an area during a given period of time is called
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median home price
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In California, to work as a real estate salesperson or broker you must have
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a real estate license issued by the California Department of Real Estate
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