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Real Estate: Basics II


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Types of real property include
Residential: single-family and multifamily
The factors affecting the supply of real estate include
Labor force availability, construction and material costs,
The factors affecting the demand for real estate include
Population: some areas grow faster than others; some
Broker
One who acts as an intermediary on behalf of others voiced the or commission. One who is licensed to list,
Business cycles
The upward and downward fluctuations in business activities generally characterized by four stages:
Chattel
Personal property
Demand
The amount of goods people are willing and able to buy any given price; often couple with supply.
Heterogeneity
state of being dissimilar, composition from unlike elements.
Highest and best use
The possible use of a property that would produce the greatest net income and thereby
Market
A place where goods are bought and sold and value established.
Non homogeneity
A lack of uniformity; dissimilarity; heterogeneity. Because no two parcels of land are exactly
Personal property
Items, call chattels or personality, that do not fit into the definition of real property;
Provisional broker
A real estate licensee who performs real estate activities of the supervision of a license
Real estate
land; or portion of the earth's surface extending down toward to the center of the earth and upward
Real property
The land plus permanent improvements and the interests, benefits, and rights inherent in real estate
Situs
The personal preference of people for one location over another, not necessarily based on objective facts
Supply
The amount of goods available in the market to be sold at a given price. Term is often coupled with Demand.