REAL 4000 Uga Exam Questions with 100% Correct Answers | Already Passed
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Course
REAL 4000 Uga
Institution
REAL 4000 Uga
REAL 4000 Uga Exam Questions with
100% Correct Answers | Already Passed
Property - anything that can be owned or possessed
tangible assets - physical things, such as automobiles, clothing, land, or
buildings
intangible assets - nonphysical things which include contractual rights
(e.g., mortga...
Property - ✔✔anything that can be owned or possessed
tangible assets - ✔✔physical things, such as automobiles, clothing, land, or
buildings
intangible assets - ✔✔nonphysical things which include contractual rights
(e.g., mortgage and lease agreements), financial claims (e.g., stocks and
bonds), interests, patents, or trademarks
how is the term "real estate" used? - ✔✔1. used to identify tangible assets
of land/buildings
2. used to denote the bundle of rights associated w/ ownership of assets
3. used in reference to the business of real estate
improvements on land vs improvements to land - ✔✔ON land - fixed
structures such as buildings, walls etc
TO land - include components necessary to make the land suitable to be
used such as infrastructure
land - ✔✔- often used to refer to a building site, lot, etc. and not just land
,raw land - ✔✔land that does NOT include structures or any improvements
real property - ✔✔rights associated with ownership of land and all
permanent attachments to land.
*used interchangeably with real estate
personal property - ✔✔objects that are moveable and not permanently
attached to the land/structure, including furniture and tenant fixtures that
are often purchased along w/ real property acquisitions.
acre - ✔✔1 acre = 43,560 sq ft
640 acres = 1 sq mile
user markets - ✔✔when users are competing for PHYSICAL
locations/spaces
capital markets - ✔✔FINANCIAL sector of the economy that allocates
financial resources among households/firms that require funds
- participants invest in stocks, bonds, etc. to receive a fin. return on their
investment
capital market: equity interests - ✔✔owners of the real estate
- these people get their ROI through rent, price appreciation, etc.
capital market: debt interests - ✔✔the lenders
, - hold claims to interest on the borrowed funds that people use to invest,
etc.
capitalization rate - ✔✔ratio of a property's annual net income from rental
operations to it's value
txtbk def: the percentage that is obtained when the income produced by a
property (or a specified interest in a property) is divided by the value or sale
price of the property (or the specified interest in the property).
role of government in real estate - ✔✔- local govt has the most influence
- state govt has the least effect
- national govt also has significant impact
how does the national government influence real estate? - ✔✔through
income tax and housing subsidy programs
how is RE unique? - ✔✔- heterogeneous: each property is unique
- immobility
*b/c of these, the RE market is illiquid, localized, and highly segmented
institutional-grade real estate - ✔✔Larger commercial properties, usually
valued over $10 million, targeted by institutional investors, such as pension
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