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Real Estate 306 Exam 1 | Questions And Answers Latest {} A+ Graded | 100% Verified
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Real Estate 306 Exam 1 | Questions And Answers Latest {} A+ Graded | 100% Verified
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Real Estate 306 Exam 1 | Questions And Answers Latest {2024- 2025} A+Graded | 100% Verified
real estate figure - space consumer
space producers
public infrastructure
space consumer - client/user
spaces producers - developers, bankers, appraisers, brokers, lawyers
public infrastructure - community (fire, police, garbage)
developer's key objective - generate risk-adjusted returns that create value and are able to manage risk
development process/timeline - find the opportunity
land control/acquisition
design&public approvals
financing
construction
leasing
payday
responsibilities of the real estate developer - building users
construction
community/public sector
lenders and investors
entrepreneur
, development starting points - site in search of a use
use in search of a site
value creation - a. sales price-total project cost
b. return on investment
components of total project costs - land purchase price
cost of construction (hard costs)
secondary cost (soft costs)
cash flow drivers - revenue
operating expenses
recurring capital expenditures
real estate's economic impact - 25% of GDP
70% of local gov revenue through RE taxes
developed land is 6% of US land
RE value is $31 trillion, a slight more than stock market equity at $30 trillion
the term real estate - physical asset, rights from owning property, a profession and an industry
formal definition of real estate - land, buildings, and structures permanently affixed to the land
real property - real estate plus the bundle of rights
personal property - property that is not permanently affixed to buildings and have limited value if
removed
ownership rights - right to:
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