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Real Estate 306 Exam 2 | Questions And Answers Latest {} A+ Graded | 100% Verified
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Real Estate 306 Exam 2 | Questions And Answers Latest {} A+ Graded | 100% Verified
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Real Estate 306 Exam 2 | Questions And Answers Latest {2024- 2025} A+ Graded | 100%Verified
Police Power - right of government to enact laws to protect the general health, welfare, and safety of
public
Federal Reserve - sets a target range to keep healthy level of unemployment and inflation to avoid
swings in the economy
Federal Funds Rate (FFR) - - The average rate that banks pay when borrowing from each other overnight.
- influences interest rates that banks charge including debt on real estate
property taxes - Taxing authorities, tax assessments & bills, nature of property taxes
Impact Fees - - one time fee charged to new developer by municipality to offset cost of increased city
resources needed as result of additional developments (in theory)
- can be used for pet projects, policy priorities, or knowingly/unknowingly to restrict growth.
eminent domain - Power of a government to take private property for public use with compensation
(amendment 5)
Regional Plans - - created by the state, county, or regional authority
- Include major transit and natural resources
- Do not usually impact individual buildings
Comprehensive Plans - - Created by a municipality and enforced by municipal ordinances
- Produced through public meetings, data analysis, and politics
- Include growth priority areas, future use plan, types of uses, transportation goals
Neighborhood plans - - Must comply or be incorporated into the municipality's comp plan
- Produced with the help of professionals through neighborhood involvement and public meetings
, - Typically driven by neighborhood associations resistant to significant change
zoning - - specific rules for each. land parcel as described in the Zoning Code or Municipal Ordinance
- reflects priorities identified in the Comp Plan
- allowable uses and site requirements
building codes - - regulate a building's physical structure
- address issues of health and safety
Floor Area Ratio (FAR) - The density of nonresidential land use, exclusive of structured parking,
measured as the total nonresidential building floor area divided by the total buildable land area
available for nonresidential structures.
entitlements - A set of approvals needed for the right to develop a piece of land.
Role of Government - 1. to pay for/provide all things we can't do individually (military, roads, schools,
utilities)
2. Manage economy (jobs & inflation, Fed Reserve)
3. Policies (balance & economic growth, revitalization efforts, affordability, sustainability)
4. Property Taxes
5. Impact Fees
6. Eminent Domain
7. Inspections (building inspection + review services for all construction)
Planning - process of developing plans and programs for use of land within a community
Types of Real Estate Risk - - Political (NIMBY)
- Process (approvals)
- Legislative (laws)
- General market (macroeconomy)
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