The Real Estate Market Flashcards

The Real Estate Market Flashcards Factors that tend to affect the demand side of real estate include population,demographics, and employment and wage levels T/F T Real estate markets are local T/FT Land can be depreciated T/FF Government financial policies primarily affect theSupply of Real Estate When supply increases, real estate prices usually Decrease Employment and wage levels affect theDemand for Real Estate A market is a place where goods can be bought and sold T/F?T Nonhomogeneity and heterogeneity are synonymous terms T/F T The demand for real estate is affected by Demographics The price of real estate is quick to adjust to sudden variations in supply and demand T/F F In reference to real estate, which means that investments are long term?Permanence ofInvestment A community may use tax abatements to eliminate or reduce taxes to new companies T/F T The demand for real estate is affected by which of the following?Demographics When demand increases, real estate prices Increase Which of the following stages of the business cycle is characterized by a general economic decline?Recession Real estate markets are usually identical in different sections of the same city T/F F An apartment building owner who landscapes the property has increased its value through situs T/F F Population affects theDemand for Real Estate Changes in a parcel of land that affect its value are called improvements T/F?T Relative scarcity is a physical characteristic of land T/FF Immobility, indestructibility, and nonhomogeneity are economic characteristics of realestate T/F F A community may use tax abatements to eliminate or reduce taxes to new companies T/F?T Which is the MOST important economic characteristic of real estate?Area Preference In real estate markets, which may change quickly? Demand Zoning and building ordinances are established by the local government T/F T

Which is NOT insured by property insurance? Land A family's wanting to buy a home near good schools is an example of whichcharacteristic of real estate?Area Preference The price of real estate is quick to adjust to sudden variations in supply and demand T/F?F Immobility, indestructibility, and nonhomogeneity are economic characteristics of real esateT/F F Because of the nonhomogeneity of real estate, which statement is TRUE?No two parcels ofReal Estate are exactly the same Government financial policy affects theSupply of Real Estate Which factor primarily affects supply in the real estate market?Government Financial Principles Factors that tend to affect the demand side of real estate include population, demographics, and employment and wage levels T/F T An apartment building owner who landscapes the property has increased its value throughsitus F Changes in a parcel of land that affect its value are called improvements T/F T Government controls affect which of the following?Supply of Real Estate

The business cycle can be characterized by four stages:

expansion, recession, depression, and revival T/F?T Why is the price of real estate slow to adjust? All of the Above When supply decreases and demand decreases, real estate prices Remain Stable Supply can be defined as the amount of goods consumers are willing and able to buy at agiven price during a given time period T/F T The term demographics does NOT includeReligious Affiliation

The business cycle can be characterized by four stages:

expansion, recession, depression, and revivial T/F T The study and description of a population is demographics T/F T Relative scarcity, improvements, permanence of investment, and area preference arephysical characteristics of real estate T/F F When supply decreases, real estate prices increase T/FT Real estate markets may be different in different sections of the same city T/F T The supply of real estate is affected by population T/FF Because real estate is immobile It's value is heavily influenced by changes in the surrounding area The term demographics does NOT includeNumer of people living in an area When supply increases and demand increases, real estate prices decrease T/F F