Upgrade to remove ads
Only $35.99/year

Overview of Real Estate Markets and Analysis Flashcards

Terms in this set (11)

Buyer's market
When buyers have an advantage over sellers in price negotiations
Seller's market
When there are many interested buyers, but the real estate inventory of properties is low
Market analysis
The analysis of a market's supply and demand for real property performed by an appraiser
Market area
The area associated with a subject property that contains its direct competition
Principle of supply and demand
The availability of property to be purchased and the desire and ability of people to acquire property
Equilibrium
The point at which supply and demand balance each other and prices become stable
Physical characteristics
Attributes of a property that are observable or measurable as fact, as distinguished from opinions and conclusions, which are the result of some level of analysis or judgment
Economic characteristics
Characteristics outside of the physical components of real property that contribute to its value
Purchasing power
The amount of money available to spend
Vacancy rate
A percentage of all available rental units in a given market that are unoccupied at a given time
Principle of competition
A principle used by appraisers when determining property value; competitive pressures between similar properties influence a property's value
Sets found in the same folder