REA 456
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Exam 1 modules
Last updated 7:09 AM on 9/5/26
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5 Terms
1
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whats is a key characteristic of a house in terms of residential property?
it’s a single building on its own block of land
2
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what differentiates a condominium from a house in terms of property control?
the property owner only controls what happens on the interior of the property
3
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what type of property is typically income-producing or for rent in the US?
apartment
4
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what does an improved lot have that an unimproved lot doesn’t?
utilities such as a roadway, sewer lines, water lines
5
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why is an owner-occupied home not considered an investment property?
because it is considered a consumption good