CE Shop Unit 1 Flashcards

CE Shop Unit 1 Flashcards Top 10 issues affecting real estate1. Infrastructure2. Housing in America3. Weather and climate-related risks4. Technology5. The economy6.Politics7. Capital market risk8. Population migration9.Volatility and confidence10. Public and private indebtedness ResidentialProperty with four or fewer residential units or agricultural property with 10 or fewer acres BusinessesSale, purchase, or lease of businesses in 2020, the market was disrupted bythe COVID-19 pandemic.On a typical day a Property Manager might... Keep the property maintained to attract quality tenantsFind and screen quality tenantsShow the propertyManage move-ins and move-outsAddress tenant complaintsConduct market analyses ConstructionIn this process general contractor takes out a loan to order materials and hire sub contractors to grade the land lay the foundation and add framing. Major systems are added like electricity, HVAC, and plumbing.Consumer confidence is typically high preceding recessions; it has faltered in 2020 Real Estate CounselorAssists clients in making informed real estate decisions MovingIn this process new furnishings, appliances, landscaping and decor are purchased.Property ManagerOperates properties for others Does Specialization require additional education? No, but it does require expertise with types of sales.The real estate industry depends on theavailability of reasonably priced capital Can you handle 6 different classes of property? Yes CommercialIncome-producing Properties, such as retail stores, office buildings, shopping centers, and residential property of more than four units May be an employee or an independent contractor Sales Associate Real Estate EducatorEducates on laws, rules, practices in the areas of pre-licensing, continuing education, and post-licensing Brokers and sales associates may specialize in any of these sales specialties.ResidentialCommercialIndustrialAgriculturalBusinesses Urban PlannerMakes recommendations to local governments for improvements BrokerCan receive compensation directly from buyers or sellers Title and Abstract CompanyEnsures good title to the buyer in a real estate transaction The consumer debt burden (especially education and auto loans) means borrowers have less credit available to them.

IndustrialFactories, warehouses, industrial districts AgriculturalFarms, timberland, ranches, orchards What may affect the net worth of retirees When sellers can't find buyers that can afford their properties.LivingIn this process new owners may install security systems, and set up subscriptions to mail, newspaper, and cable.Their children attend school and take part in recreational activities.Economic growth (and real estate values) depend onA healthy infrastructure (e.g. buildings, roads, power supplies Population has shifted from the center of the country tothe west and the south Lender or InvestorProvides funds for development and purchase of real estate Political division leads to political gridlock which impactsthe ability of federal, state, and local governments to solve the other problems on the list (climate change, population migration, infrastructure, housing).Economic expansion was about to end in2019 How does rising interest rates affect the real estate market?Negatively Responsible for the acts of all licensees who work under them Broker chronic weather and climate risks aresea level rise, drought, heat waves, water scarcity AppraiserEstimates property values based on established valuation guidelines DeveloperConstructs improvements on land Population moves in search ofprosperity (a function of innovation).In what year was there was more capital available than deals to pursue.2019 Buying/SellingIn this process real estate professionals are needed to list the property and represent the buyers.As a licensee, you won't be flying solo; you'll be supervised by your broker What are the steps of real estatePlanningConstructionBuying/SellingMovingLiving Can you specialize in more than 1 area?Yes Buyers keep who busy?In this process lenders, title companies, appraisers, and home inspectors.acute weather and climate risks arehurricanes, flooding, wildfires PlanningIn this process a vacant lot, seen with an eye for development. Engineers, architects, surveyors, and utility workers are involved.Home InspectorProvides visual inspection of a property's structure, systems, and site conditions and provides report to the buyer