Chapter 1 FRL 306

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Author:
MCDUQUE
ID:
197947
Filename:
Chapter 1 FRL 306
Updated:
2013-02-04 21:03:37
Tags:
Nature Real Estate Markets
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Description:
Test Problems Chapter 1
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  1. A market where tenants negotiate rent and other terms with property owners or their managers is refereed to as a:
    User market.
  2. The market in which required rates of return on available investment opportunities are determined is referred to as the:
    Capital market.
  3. The actions of local, state and federal governments affect real estate values:
    Through user markets, capital markets, and taxation policies.
  4. What portions of households own their house?
    Approximately 2/3.
  5. Of the following asset categories, which has the greatest aggregate market value?
    Nongovernmental real estate.
  6. Storm water drainage systems are best described as:
    Improvements to the land.
  7. What is the single largest asset category in the portfolio of a typical household?
    Housing.
  8. Real estate markets differ from other asset classes by having all of the following characteristics:
    • Local market
    • High transaction costs
    • Segmented market
    • Heterogeneous product
    • (not homogeneous product)  
  9. Which of the following is NOT important to the locations of commercial properties?
    • NOT Important: Access to schools
    • Important:
    • Access to customers
    • Visibility
    • Availability of communications infustructure.
  10. Which of the following attributes of a home are the most difficult to observe and value?
    Location attributes.
  11. Primarily through land use
    controls and property tax policy, which branch of government has the largest
    influence on real estate values and why?
    • Local government (municipal, county), because they generally (CA
    • excepted) determine tax rates and create and enforce zoning laws, building
    • codes, etc.

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