A seller’s market occurs when
- too many homes are for sale.
- buyers have lots of choices.
- not enough inventory is available for buyers.
- seller’s price their homes for over the price that they purchased.
not enough inventory is available for buyers
Karen has always wanted a home near the ocean. She recently received an inheritance that would help her purchase the house she’s always wanted down the street. This is an example of
- supply.
- financial stability.
- demand.
- availability.
demand
A large factory closed in the area. Many workers lost their jobs as a result. This will probably result in a
- buyer’s market.
- seller’s market.
- lender’s market.
- renter’s market.
buyer’s market
Real estate investment can be considered to be
- a quick way to make money.
- a relatively long term investment.
- a short term opportunity.
- independent of market conditions.
a relatively long term investment.
A builder is looking to develop an area of several acres. Concrete in the area is hard to get due to a large complex being built down the street. He is being affected by
- workmanship.
- demand.
- pricing.
- supply.
supply
Demand may be influenced by
- the ability of a buyer to get a loan.
- skilled labor.
- credit scores.
- the ability of a builder to get a loan.
the ability of a buyer to get a loan.
Which of the following is NOT a demand factor?
- Price of real estate
- Availability of skilled workers
- Availability of mortgage credit
- Income of consumers
Availability of skilled workers
The MOST important understanding of the vacancy rate is
- to indicate how much money the owner will receive.
- to indicate how much movement there is in the market.
- to indicate the location of the property.
- to indicate there are good neighbors in the complex.
to indicate how much movement there is in the market.
Government interference influences the real estate market. Which is NOT government interference?
- Zoning
- Building codes
- Taxes
- Deeds
Deeds
The principle of property being nonhomogeneous means
- all property must pay taxes.
- all property is similar.
- no two properties are the same.
- no two properties can be owned at the same time.
no two properties are the same.
Key indicators of a change in the market could be
- a change in the sales volume.
- more real estate sales people coming into the business.
- less real estate sales people coming into the business.
- predictions of harsh weather in the north.
a change in the sales volume.
