Physical characteristics of real estate Flashcards
(3 cards)
1
Q
What is immobility?
A
The geographic location is fixed and therefore its value is largely influenced by the surrounding area
Immobility refers to the characteristic of land and real estate that it cannot be moved.
2
Q
Land is ____
A
indestructible
This highlights the durable nature of land.
3
Q
Real estate is ____; there is no standard product; no two parcels are identical for they are at least in different locations (nonhomogeneous).
A
unique
