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Exam (elaborations)

Real Estate 306 Exam 1 Questions and Answers 100% Verified

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  • Course
  • Real Estate 306
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  • Real Estate 306

Factors that affect a bid-rent curve - - number of commuters or firms - wage rate (time cost) of commuters - speed of travel - frequency of trips Certain requirements for deed: - - Name grantor and grantee - Consideration and conveyance - Contain certain covenants and clauses - Contain excep...

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  • August 2, 2024
  • 21
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers
  • Real Estate 306
  • Real Estate 306
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PatrickKaylian
Real Estate 306 Exam 1
Factors that affect a bid-rent curve - - number of commuters or firms

- wage rate (time cost) of commuters

- speed of travel

- frequency of trips



Certain requirements for deed: - - Name grantor and grantee

- Consideration and conveyance

- Contain certain covenants and clauses

- Contain exceptions and/or reservations clause & phsycial descriptions

- acknowledgment and delivery



Action of water - -Involuntary conveyance

-accretion reliction - deposit soil, subsiding of water



Actual notice - open, continuous, actual possession of property



Adverse posession - someone openly lives and occupies a house for 7 or more years and pays
property taxes during that time, does not own the house,

- can then take possession



Affirmative easement: - Gives dominant parcel some intrusive use of servient parcel

- driveway or access right of way

- Sewer line

- Drainage

- Common Wall

,Agglomeration economies: - emergence of specialized resources in response to demand from
multiple industries



- long term advantages

- safer places for RE investment



appurtenant: - dominant - benefits from easement

servient - constrained/limited by easement



Attracting businesses - locations that will attract bases are :

- labor force characteristics

- Quality of life

- leadership (financial support, govt. support)



Bid rent curve in real life - - numberous focal points

- transportation improvements make access uneven

- physical characteristics of land (swamp, contamination, views, zoning) impact value

- still tend to see most valuable land in CBD



Bid-rent curve - Tradeoff between value of property/rent and transportation costs



trade off time vs. money



Building codes - - older than zoning (circa 1900)

- issues of safety, fire, sanitation, injury

- They continue to evolve, 9/11 -- need more stairs exits

new technology - smoke detectors

, CApital markets - Serve to allocate financial resources among households & firms requiring funds



Capitalization rate - The ratio of a property's annual net income to its value

- fundamental measure used in Real estate

Acknowledgment: - Confirmation that grantor acted voluntarily



- notarized or equivalent (witnesses present)

- want to make sure nobody is holding a gun to your head and forcing you to sign



Capitalization rate equation - = Net operating income Yr. 1 / total value of property



CBD - Central business district




Changing notion of "best practice" - - cul-de-sacs or grid streets?

- mixed density and use



Clustering - - people can gather quickly and efficiently

- provides better access to goods and services

- creates competition for access which creates the patterns of urban land uses

- people want to be able to compare many goods



Co ownership types: - - Condominium

- Cooperative

- Timeshare

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