Chapter 1 Mastering Real Estate Flashcards Preview

Idaho Real Estate > Chapter 1 Mastering Real Estate > Flashcards

Flashcards in Chapter 1 Mastering Real Estate Deck (7)
Loading flashcards...
1
Q

Name the five classes of real estate.

A

Residental, Commercial, Industrial, Agricultural, Special purpose

2
Q

Name the three characteristics of real estate.

A

Immobility, Indestructilibility, Nonhomogeneity.

3
Q

Name the economic characteristics of Real Estate.

A

Scarity, Modification, Fixity, Situs

4
Q

When demand increases or supply decreases, what happens to price?

A

It increases.

5
Q

When demand decreases or supply increases, what happens to price?

A

It decreases.

6
Q

What factors affect the supply of real estate?

A

Federal regulations: taxation, zoming, building

Government Financial Policy:

7
Q

What factors affect demand?

A

Population and demographics;

Employment and Wage Levels

Vacancy Levels