Chapter 15 - Quiz Flashcards
What is the term for the situation where there are more buyers than available homes for sale?
Renter’s Market
Seller’s Market
Buyer’s Market
Lender’s Market
Seller’s Market
Less homes, more buyers is a Seller’s Market.
What is the most important thing that vacancy rate will indicate?
How much movement there is in the market
How much money the owner will receive
Economic value of the neighborhood
Location, location, location
How much movement there is in the market
Which of the following is NOT a Government Interference?
Deeds
Building Codes
Zoning
Taxes
Deeds
Which of the following will influence Demand?
Loans available to Builders
Buyer ability to get a loan
Availability of Skilled Labor
Credit Scores
Buyer ability to get a loan
Demand will be influenced by the ability of buyers to get loans.
Which of the following best describes real estate investment?
A short term opportunity
A quick way to make money
Independent of the property market
A relatively long term investment
A relatively long term investment
Which is NOT a demand factor?
Consumer Income
Market Values
Availability of skilled workers
Credit Scores
Availability of skilled workers
The availability of skilled workers is not a demand factor.
When a large Company closes its doors and many workers lose their jobs what will this do to the market?
It will probably result in a lot of construction
It will probably result in a lot of Absentee Owners
It will probably result in a seller’s market
It will probably result in a buyer’s market
It will probably result in a buyer’s market
If a lot of people try to sell their homes there will be excess inventory and it will become a buyer’s market.
What would a change in sales volume indicate?
More FSBO homes for sale
Absentee Owners
A change in the market
An increase in real estate licensees
A change in the market
When building materials become scarce due to a lot of building activity what affects a builder most?
Skilled Labor
Supply
Market Value
Demand
Supply
What is the term for the principal of no two properties being the same?
Assemblage
Plottage
Nonhomogeneous
Erosion
Nonhomogeneous
