chapter 1, blue apple real estate Flashcards

chapter 1, blue apple real estate Flashcards governmental controls and financial policies (the following are some of the regulations the government has in place to facilitate the real estate industry)

• Public land/ control use.- Planning/ zoning- Building

codes- Subdivision regulations- Environmental protection regulations Water rightsgranted the use of water that is adjacent to their land for domestic, agricultural or manufacturing purposes.commercial classes of real estateindustrial, retail, healthcare, office buildings and leisure Riparian rights vs littoral rightsproperties that border a river or stream are governed by riparian rights. THe rights of bodies of water that are classified as oceans, lakes and sease are governed by littoral rights.Navigable watersidentified by government survey maps. Used for commercial ships and are classified as rivers and oceans.special purpose propertyprivately owned properties sucah as places of worship, schools and cemeteries as well as publicly held properties, such as schools, municipal service buildings and parks.Percolating waterunderground water that is not confirmed to a specific waterway.when demand increasesreal estate value increase/ condition of scarcity exist Mineral rightsThe right to things such as coal, oil, gas and ores are called mineral rights. Mineral rights can be sold or leased separately.Utility- The property's usefulness for its intended purposes.- Real property has a use in a certain marketplace which contributes to the demand for it.real estate professions includesalespersons and brokers, investors, lendors, developers, property managers, counselors, attorneys, appraisers, and inspectors.the government uses licensed real estate professionals tonegotiate the sale, purchase, and lease of real estate commerical propertybusiness property, including office space, shopping centers, stores, theaters, hotels and parking facilities.industrial propertywarehouses, factories, land in industrial districts and power plants.real property ownership rightsair, mineral, water rights. These can be sold or leased apart from one another.property typescommerical and residential Other factors affecting demand- Population; the demand for hoursing increases as the population increases. As housing/ shelter is a basic human need.- Demographics; The study and description of a population.- Employment and wage levels; the decision to buy or rent a home corelates with income. Low job opportunities and wages can slow down the real estate

market.correlative rightsThis right is used when there is a short supply, allowing each owner a reasonable share of water Because real estate syndicates are established for profit, and profit is based on the management effort they qualify as a security and are subject to SEC rules and regulations

Transferability- How readily or easily ownership rights or title to real estate can be transferred affects the property's value.- When buyers do not want the unmarketable title, property is encumbered and has a value impairment.- Property cannot be transferred due to disputes among the owners, causes the value to decline, since the investment is wholly illiquid util the disputes are resolved.Demand- The need or desire for possession of ownership backed by the financial means to satisfy that need.- Availability of properties interacts with the strength of the demand for the properties to establish the prices.characteristics of value in the real estate market DUSTDemand,Utility,Scarcity,Transferability agricultural propertyfarms, timberland, ranches and orchards when demand decreasesreal estate value decreases/ condition of surplus exist ScarcityThere is a limited supply of land and resources in that area.Personal propertieshave distinguishing characteristics of being movable and they are not physically attached to the property.six categories of real propertyresidential, commercial, mixed use, industrial, agricultural, special purpose air rightsthe right that extends into space above the land into infinity is called air rights.when demand is equalreal estate values stabilize/ market is in balance syndicatescomprise many investors who jointly participate in ai real estate investment.mixed use propertyproperty that allows for uses, commerical and residential, in the same buliding Right of lateral supportProhibits the extractor from damaging the natural contour of the adjoining properties.resedential propertyall property used for single-family or multifamily housing, whether in urban, suburban, or rural areas.factors affecting supply and demandpublic land/ control use, planning/ zoning, building codes, subdivisioni regulations, environmental protection regulations Real property is theland itself plus things that are permanently attached to the land by man.