Categories of real estate characteristic

Question 1

What are two primary categories of real estate characteristics?
Economic
Material
Substantive
Physical

Answer 1

Economic and physical

Question 2

What real estate characteristic is scarcity?

Answer 2

Economic

Question 3

What real estate characteristic is improvements?

Answer 3

Economic

Question 4

What real estate characteristic is performance of investment?

Answer 4

Economic

Question 5

What real estate characteristic is in mobility?

Answer 5

Physical

Question 6

What characteristic is indestructibility?

Answer 6

Physical

Question 7

What real estate characteristic is uniqueness?

Answer 7

Physical

Question 8

What is physical characteristic in real estate?

Answer 8

Whether or not it can be changed or destroyed

Question 9

What is an economic characteristic in real estate?

Answer 9

Location or area preference

Question 10

What is the concept that there is a finite amount of land?
Location or area preference
Permanence of investment
Scarcity
Improvements

Answer 10

Scarcity

Question 11

What is: A land value that can be affected by the changes that are made to it?
Location of area preference
Permanence of investment
Scarcity
Improvements

Answer 11

Improvements

Question 12

What is; involves improvements such as sewer, roads, utilities, that are long-term, stable investments, with relatively stable, returns overtime?
Location or area preference
Performance of investment
Scarcity
Improvements

Answer 12

Performance of investment

Question 13

What is; A properties value is impacted by where is situated and how interested people are in buying or living in the area?
Location or area preference
Permanence of investment
Scarcity
Improvements

Answer 13

Location or area preference

Question 14

What is the physical characteristic of the geographic location of a piece of land that is fixed and it could never be changed?
Uniqueness
Immobility
Indestructibility

Answer 14

Immobility

Question 15

What is the physical characteristics while improvements may deteriorate over time, the land itself can’t be destroyed.
Uniqueness
Immobility
Indestructibility

Answer 15

Indestructibility

Question 16

What is the physical characteristic of land that isn’t interchangeable. One piece of land isn’t exactly like another.
Uniqueness
Immobility
Indestructibility

Answer 16

Uniqueness

Question 17

Real property

Answer 17

Real estate, plus the entrance, benefits, and write included with ownership.

Example, real property can be segmented into a bundle of rights, with each rights sold separately, two different owners.

Question 18

What are Economic characteristics that impact the value of land?

Answer 18

Scarcity
a value will likely be greater than if it is plentiful.

Improvements
Making something better in real estate

Permanence of investment
infrastructure improvements, such as roads, underground water, water with natural gas electric installation

Location or area preference
example land by a river might be in high demand.

Question 19

What are physical characteristics in real estate?

Answer 19

Immobility
The geographic location of land that can never be changed

Indestructibility
The land itself cannot be destroyed

Uniqueness
A piece of land will not be exactly like another.

Question 20

What are specific characteristics not found and personal property?

Answer 20

Immobility
Uniqueness, one parcel piece of land that will not be exactly like another
Scarcity
Permanency and indestructibility
Illiquidity not easy to convert to cash