Real Estate Exam #3

The most desired type of housing in America

single family detached

The advantages of attached housing include

all of the above ( lower per unit development cost , less environmental impact )

The blank rate is a measure of how quickly or slowly new residents are being sold upon

absorption

The attached row house is a type of dwelling on its own fee simple lot that shares what

common walls

Which statement is not true ?

Financial feasibility is not dependent on the absorption rate of a market

A grocery store anchored in a strip market is what kind of store

neighborhood

Resort hotels cater most to ?

tourists

Most important consideration in the selection of a shopping center site

location and access

The total floor area in a shopping center designed for occupancy by tenants is

gross leasable area

What type of tenants are intended to attract shopper to shopping centers and benefit other tenants

anchor tenants

Transactions involving the transfer of rights to use real estate are said to occur in

the real estate space market

Office building in a market that generate the highest rate per square foot

Group A

An increase in demand for space will be met with

increase in equilibrium price

The percentage of total space in a market that is unoccupied at any given point is called

vacancy

Which of the following serves as an indication of balance between supply and demand in a market

A & B ( vacancy rates and rent levels )

If students of real estate should study factors that influence demand at certain level because

each of the factors affect the value

Which term refers to industries that bring something in from beyond its boarders

economic base

National economic chains affect markets in both

the short and long run

Although their are exceptions , the reason people live in the communities they do is because of

employment

The axial model of city growth is

star shaped ( axial star )

When a neighborhood is revitalized , what term describes the displacement of lower income residents by higher income residents

gentrification

The most important factor in selling a home is

setting the right price

What makes owning a home advantageous over renting

inflation

Which of these is excluded from consideration when estimating a perspective borrowers income for a mortgage loan application

inheritance

Bob and marge are retiring to Charleston , which of these is least likely to impact their home buying decision

quality of public schools

When buying a home , its a good rule to buy one that

price a little bit below the average

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