Exam (elaborations)
CE shop Unit 3 questions and answers
- Course
- Institution
CE shop Unit 3 questions and answers
[Show more]
Content preview
CE shop Unit 3 questions and answersReal estate activities have an impact on the economy. TF - Answer -True
The health of the overall economy may rely heavily on construction of new properties.
TF - Answer -True
Which of these phases have an effect on the economy? - Answer -Planning, building,
buying/selling, moving and living
Engineers, city and/or county officials map out local development - Answer -Planning
Engineers, contractors, and other workers build properties and infrastructure - Answer -
Construction
Consumers work with real estate professionals, lenders, home inspectors, etc., to
purchase or sell a home. - Answer -Buying/selling
Consumers make arrangements to occupy or leave the property. - Answer -Moving
Residents enjoy local amenities and services. - Answer -Living
Several different phases make up the real estate cycle. What are they? - Answer -Over
supply, Recession, Expansion and Recovery
During the _____ phase, the market begins to bottom out. We see home prices fall,
while foreclosures increase - Answer -Recession
During the ____ phase, things start to improve, and they continue improving until the
end of the ____ phase, when the market peaks. - Answer -Recovery; Expansion
We see the market begin to make a downturn during the ____ phase, when buyers are
over-paying and activities are occurring at a rapid rate, which is not sustainable -
Answer -Over supply
There are so many houses on the market, with many sitting vacant because everyone is
too scared to buy. This does nothing to help the increasing number of foreclosures.
Deals can be had for those who are ready to buy, however. During this phase, prices
tend to fall in order to encourage home shoppers to buy. - Answer -Recession
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller millyphilip. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $9.99. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
62890 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now