BOOk Chapter 1 Flashcards
what is a residential property?
single family houses
multi family apartments
types of multi-family homes
low-rise (less than 4 floors)+
mid-rise (4 to 10 floors)
high-rise (more than 10 floors)
true or false
condo owners are granted rice interest in their Real Estate
yeee
what are the types of commercial properties
office
retail
industrial
hotel
other
what are key factors when determining the value of an office
tenancy
location
quality level
what are the level of quality for an office
guest are graded A
wackiest are graded C
what does it mean for an office to be single-tenant?
there is only a single company in the office
what does it mean for an office to be multi-tenant?
there are different companies in the office
how are retail properties differentiated
by their format and size
what are the retail formats
malls
shopping centers
power centers
lifestyle centers
street retail
what are the size formats for retail
neighborhood
community
regional
super regional
what type of retail stores would Best Buy, Walmart, and Target be considered?
power centers
category killers
why are Best Buy, Walmart, and Target considered category killers?
their selection of merchandise
their agressive pricing
they kill competition
give examples of industrial commercial retail things
warehouses
manufacturing
assembly spaces
etc
how are hotels classified
location
intended use
level of service
how can a hotel brand be crucial?
it can strongly influence wether a customer stays or not
true or false
interests in real property are critical in determining value?
true
what is real property
land
structures affixed to that land
cannot be moved
types of interest in real property
fee interest
leasehold
fee interest**
not complete
subject only to the powers of big G
define don enclosed shape of the surface in which the owner can do what he pleases
leasehold
right to use a property for a discrete period of time
more limited than fee interested
why is the leasehold more limited than fee interest
at the end of the leasehold, the property reverts to original owner
types of restrictions put by the government
zoning
entitlements
eminent domain
easements
zoning
detailed map designating restrictions planned on the use of each piece of property under government’s jurisdiction