Real Estate 306 Exam 1; Questions and Answers 100% Correct
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Course
Real Estate 306
Institution
Real Estate 306
Real Estate 306 Exam 1; Questions and
Answers 100% Correct
real estate figure Correct answer-space consumer
space producers
public infrastructure
space consumer Correct answer-client/user
spaces producers Correct answer-developers, bankers, appraisers, brokers, lawyers
public infrastructure...
public infrastructure Correct answer-community (fire, police, garbage)
developer's key objective Correct answer-generate risk-adjusted returns that create value
and are able to manage risk
development process/timeline Correct answer-find the opportunity
land control/acquisition
design&public approvals
financing
construction
leasing
payday
, Real Estate 306 Exam 1; Questions and
Answers 100% Correct
responsibilities of the real estate developer Correct answer-building users
construction
community/public sector
lenders and investors
entrepreneur
development starting points Correct answer-site in search of a use
use in search of a site
value creation Correct answer-a. sales price-total project cost
b. return on investment
components of total project costs Correct answer-land purchase price
cost of construction (hard costs)
secondary cost (soft costs)
cash flow drivers Correct answer-revenue
operating expenses
recurring capital expenditures
, Real Estate 306 Exam 1; Questions and
Answers 100% Correct
real estate's economic impact Correct answer-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 Correct answer-physical asset, rights from owning property, a
profession and an industry
formal definition of real estate Correct answer-land, buildings, and structures
permanently affixed to the land
real property Correct answer-real estate plus the bundle of rights
personal property Correct answer-property that is not permanently affixed to buildings
and have limited value if removed
ownership rights Correct answer-right to:
use/occupy/enter it
sell it
lease it
encumber it
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