(15) The Real Estate Market Analysis

Question 1

The use that creates the highest value to the land is its _____ and ____

Answer 1

Highest

Best

Question 2

Real estate is characterized as being ______ _____ _____

Answer 2

Indestructible
Immobile
Heterogeneous

Question 3

How does the real estate market react to shifts in consumer demand

Answer 3

Slowly

Question 4

What market factor will typically result in increased demand

Answer 4

A decrease in prices

Question 5

What is the correct order of the business cycle phases

Answer 5

Expansion, peak, contraction, and trough

Question 6

What term is used to describe when small families move into older neighborhoods, renovate the properties, and displace poorer residents

Answer 6

Gentrification

Question 7

What is the correct order in which the criteria for estimating highest and best use should be considered

Answer 7

Legally permissible
Physically possible
Economically feasible
Maximally productive