FINAL

Question 1

Housing Supply By City

Answer 1

Months if Inventory
Houses sold per month/total month for sale on mls

Question 2

Months of Inventory is balanced

Answer 2

6 months

Question 3

Biggest Construction Sector

Answer 3

Residential

Question 4

GDP

Answer 4

5%

Question 5

Leading Economic Indicator

Answer 5

Housing

Question 6

Single family starts a year

Answer 6

1000

Question 7

1 new home

Answer 7

3 jobs

Question 8

TEXAS IS NUMBER ONE

Answer 8

FLORIDA AND CALIFORNIA 2 & 3

Question 9

New Homes pricier than higher than existing homes

Answer 9

TRUE

Question 10

Housing Affordability Index

Answer 10

Median Household Income & Median House Price

Question 11

Private Builders

Answer 11

73.8

Question 12

Private Brewers

Answer 12

12.7

Question 13

2 best places to begin

Answer 13

construction and purchasing

Question 14

Federal Reserve

Answer 14

Set the discount

Question 15

Monetary Polict

Answer 15

interest rate

Question 16

Fiscal Policy

Answer 16

authority to spend money

Question 17

Construction Loans

Answer 17

Banks
12-18 months
only construction

Question 18

Mortgages

Answer 18

Mortgage companies
15-30 years
principal and interest paid monthly

Question 19

Builder Budget for interest

Answer 19

((Loan x interest)/ 12 months) x build time in months

Question 20

Cost turn into sales prices mark-up to hit your gross margin

Answer 20

True

Question 21

markup formula

Answer 21

client price= cost/(1-target margin)

Question 22

mortgage payment formula

Answer 22

PI+TI= MONTHLY PAYMENT

Question 23

TAXES IN HAYS COUNTY

Answer 23

2.3515 per 100 of value

Question 24

mortgages require

Answer 24

homeowners insurance (doesn’t include flood insurance)

Question 25

conforming loans

Answer 25

loans that match the criteria

Question 26

28/36 ratio

Answer 26

28 for a mortgage payment
36 for total debt

Question 27

lots sold by

Answer 27

linear foot of curb, width

Question 28

lot sized (BLANK) lot width leads to homes sized in (BLANK) width

Answer 28

5’

Question 29

lot size defined by

Answer 29

width

Question 30

Normally hoe many new lots needed every year?

Answer 30

100,000

Question 31

One acre

Answer 31

2.75 lots

Question 32

Residential land development

Answer 32

horizontal construction

Question 33

land developing is

Answer 33

grading
wet and dry utilities
paving
community amenities

Question 34

detention ponds+streets

Answer 34

volume of rainwater runoff

Question 35

wet utilities are

Answer 35

sewer, drainage, water

Question 36

dry utilities

Answer 36

gas, electrical. phone, pipe installation

Question 37

merchant developers

Answer 37

only develop lots, DO NOT BUILD HOMES

Question 38

Plans and specs

Answer 38

project scope of work

Question 39

specs written by

Answer 39

architect with the owner

Question 40

production builders and purchasing department

Answer 40

write their own specs

Question 41

production builders have several

Answer 41

level specifications

Question 42

architectural process steps

Answer 42

programing, schematics, design/development, review set, construction drawings

Question 43

elevation drawings

Answer 43

pictorial view all 4 sides

Question 44

Floor plan and elevation plan

Answer 44

MUST MATCH

Question 45

Plot plan must be

Answer 45

signed and approved by the buyer

Question 46

window size

Answer 46

36 wide and 60 tall

Question 47

door size

Answer 47

32 wide and 80 tall