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Modern Real Estate Unit 1

Terms in this set (20)

A professional opinion of a property's market value based on established methods and using trained judgment is performed by
A Real estate appraiser
In general when the supply of a certain commodity increases
The price tends to drop
Which factor primarily affects Supply in the real estate market
Governmental monetary policy
Which factor is most likely to influence demand for Real Estate
Wage levels and employment opportunities
Property Management, appraisal, financing, and development are all examples of
Specializations in the real estate industry
What type of federal law prohibits discrimination in the provision of housing Housing Services based on race color origin religion or disability
Fair housing
A major manufacturer of automobiles is relocating one of its factories along with 2000 employee's to small-town. What effect will this most likely have on the small towns housing market?
Houses will be more expensive
A real estate professional who has had several years of experience in the industry decided to retire from actively marketing properties. Now this person helps clients choose among the various alternatives involved in purchasing using investing in property. What is this profession?
Real estate counselor
Nationwide multi-state licensing system and registry was created to register
Mortgage loan originators
Schools would be considered part of which real estate classification
Special purpose
When demand for a commodity decreases and supply remains the same
Price tends to fall
The difference between the cost basis of property and its net selling price
Capital gain
The use of borrowed money to finance an investment is called
Leverage
All of the following are categories of the uses of real property EXCEPT
Developmental
All of the following would affect demand except
Monetary policy
All of the following affect how quickly the forces of supply and demand work except
Degree of standardization of the properties price
A person who performs a visual survey of a property structure and writes a report for a buyer is
A home inspector
Another name for depreciation is
Cost recovery
A person or company responsible for maintaining a client's property and maximizing the return of the client investment is serving as
A property manager
Detailed information about age education behavioral characteristics of a population group is called
Demographics
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