Which statement is true about real estate as an economic product?
Which statement is TRUE about real estate as an economic product? Real estate is governed in the market by the price mechanism. It is controlled by the cost of demolition. Real estate has no inherent value.
What do we call the amount of total real estate inventory of a certain type that is unoccupied at a given time?
The vacancy rate is the percentage of all available units in a rental property that are vacant or unoccupied at a particular time.
What would be the likely effect on real estate prices in an area where demand is increasing but the municipality has declared a moratorium on new construction?
demand for the item is increasing in relation to supply of the item. If demand is increasing, what would be the likely effect on real estate prices in an area where the municipality has declared a moratorium on new construction? Prices would rise.
What is the relationship between price and value in the market system?
Market value is based on supply and demand and is the price or amount that someone is willing to pay in the market. Economic value is the measurement of the benefit derived from a good or service to an individual or a company.
Is real estate a good or service?
NAIOP defines real estate as a service as “a business model that provides clients with scalable access to commercial space and amenities that can be used on demand and in different configurations according to client needs.
What is a good cap rate?
What Is A Good Cap Rate For Rental Property? A good cap rate hovers around four percent; however, it is important to differentiate between a “good” cap rate and a “safe” cap rate. This is because the formula itself puts net operating income in relation to the initial purchase price.
Who many times can a person retake a real estate license examination quizlet?
How many times can a person retake a real estate license examination? An unlimited amount. You just studied 21 terms!
What is an important task for a manager of a condominium or cooperative?
The most important task of a condo manager is to make sure that everyday operations are carried out smoothly and without a hiccup. This includes making sure that board policies are enforced and followed, the condo is kept clean, and all the facilities are in proper working order.