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Lesson 1: Categories of Real Estate Characteristics Flashcards
Real Estate Characteristics :Determine each real estate
characteristic and indicate which category it belongs in.Improvements Economic characteristics
Real Estate Characteristics :Determine each real estate
characteristic and indicate which category it belongs in.Indestructibility Physical characteristics
Real Estate Characteristics :Determine each real estate
characteristic and indicate which category it belongs in.Immobility Physical characteristics
Real Estate Characteristics :Determine each real estate
characteristic and indicate which category it belongs in.Scarcity Economic characteristics
Economic Characteristics :Involves improvements, such as
sewer, roads, and utilities, that are long-term, stable investments with relatively stable returns over time Permanence of investment
Physical Characteristics :Land isn't interchangeable. One
piece of land isn't exactly like another.Uniqueness
Economic Characteristics :The concept that there's a finite
amount of land Scarcity
Economic Characteristics :A property's value is impacted
by where it's situated and how interested people are in buying or living in the area Location or area preference
Physical Characteristics :While improvements may
deteriorate over time, the land itself can't be destroyed.Indestructibility
Physical Characteristics :The geographic location of a
piece of land is fixed; it can never be changed.Immobility
Two Categories of Real Estate Characteristics :What are
two primary categories of real estate characteristics?
- Economic2. Physical
Real Estate Characteristics :Determine each real estate
characteristic and indicate which category it belongs in.Uniqueness Physical characteristics
Real Estate Characteristics :Determine each real estate
characteristic and indicate which category it belongs in.Permanence of investment Economic characteristics
Economic Characteristics :A land's value can be affected
by the changes that are made to it Improvements
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