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Real Estate Economics
Terms in this set (27)
43,560 square feet; 640 acres in one square mile.
The financial sector of the economy that serves to allocate financial resources among households and firms requiring funds.
The % that is obtained when the income produced by a property is divided by the value or sale price of the property.
Improvements on the Land
Any fixed structures such as buildings, fences, walls, and decks.
Improvements to the Land
The components necessary to make the land suitable for building construction or other uses. Often referred to as infrastructure and consist of streets, walkways, storm water drainage systems, and others such as water, sewer, electric, and telephone utilities.
Institutional-Grade Real Estate
Larger, more valuable commercial properties, generally well over $10 million, targeted by institutional investors, such as pension funds and foreign investors. These investments are generally located in the 50 to 60 largest U.S. metropolitan areas.
Nonphysical things (contractual rights, financial claims, interests, patents, or trademarks.
Same thing as institutional-grade real estate
A parcel that does not include any structures but may include some improvements to the land.
Objects that are moveable and not permanently affixed to the land or structure, inclining furniture and tenant fixtures that are often purchased in conjunction with real property acquisitions.
Anything that can be owned or possessed. Can be tangible or intangible assets.
Determine the required property-specific investment returns, property values, capitalization rates, and construction feasability.
Land that does not include structures or any improvements.
When viewed as tangible assets, the land and its permanent improvements. Includes not only the surface of the Earth, but also the area above and below the surface.
Rights associated with ownership of land and all permanent attachments to land.
Physical things (automobiles, clothing, land, or buildings)
Potential occupants, both owner-occupants, and tenants, or renters competing for physical location and space.
A market where tenants negotiate rent and other terms with property owners or their managers is referred to as a:
The market in which required rates of return on available investment opportunities are determined is referred to as the
The actions of local, state, and federal government affect real estate values
Through user markets, through the capital markets, and through their taxation policies.
What portion of households own their house?
Of the following asset categories, which has the greatest aggregate market value?
Nongovernmental real estate
Storm water drainage system are best described as
Improvements to the land
What is the single largest asset category in the portfolio of a typical U.S. household?
Real estate markets differ foremother asset classes by having all of the following characteristics except
Which of the following is not important to the location of commercial properties?
Access to schools
Which of the following attributes of a home are the most difficult to observe and value?
THIS SET IS OFTEN IN FOLDERS WITH...
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