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Florida Real Estate > Section 15 > Flashcards

Section 15 Flashcards

1
Q

Four physical characteristics of real estate include:

A

Land is immobile
indestructible
nonhomogeneous
restricted by governmental controls.

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2
Q

means that no two parcels are alike

A

Nonhomogeneous

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3
Q

Government controls influence the market through

A

zoning
building codes
taxes.

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4
Q

Economic characteristic of real estate includes the relationship between

A

supply, demand, and price

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5
Q

driven by consumer preference.

A

Demand

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6
Q

driven by availability.

A

Supply

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7
Q

Real estate typically responds slowly to changes in

A

Supply and Demand

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8
Q

Buyer preferences for location are called

A

situs

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9
Q

If there is a greater supply of property than buyers to buy, you have a

A

buyer’s market

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10
Q

Defined as any people currently occupying a given premise

A

Household

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11
Q

exists when there are more buyers (demand) than available real estate for sale

A

Seller’s market

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Florida Real Estate (20 decks)

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