theory and practice: Real Estate Practice : Lesson 4000 - 03/23/15 06:22 AM
A developer built a highrise building in the greater Memphis metropolitan area.
This highrise includes residential units, office space and retail stores and is considered to be a planned unit development.
True or false ?

A. False
A highrise building that combines the best asp[ects of residential property, office accomadations and retail shopping is a mixed-use development because of the assortment or commercial and residential applications assembled under one roof.
(5 comments)

theory and practice: Real Estate Practice : Lesson 3999 - 03/23/15 06:21 AM
When we talk about equity we're considering the fact that the neighbors yard is equal to the size of our yard.
True or false ?

A. False
When the subject of equity is discussed when considering the matter of real estate or real estate financing equity refers to the difference between the amount of money that the property owner owes on the property  and the current market value of the property.
In simple mathematical terms :
Property Market Value - Property Debt = Equity
(0 comments)

theory and practice: Real Estate Practice : Lesson 3998 - 03/23/15 06:19 AM
A seller confronted a real estate agent about the prospect of drawing up various documents pertaining to real estate financing.
The seller even asked the agent if he would consider creating documents so that the seller might proceed with seller financing options.
When something like this occurs what should the agent do ?

A. Advise the seller to contact an attorney.
The documents related to seller financing represent legal liability and issues that are best discussed with an attorney.
Agent assisted seller financing documents could create some problems for both the seller and the agent, which could possibly include RESPA violations.
(0 comments)

theory and practice: Real Estate Practice : Lesson 3997 - 03/23/15 06:17 AM
The owner of a new parcel of land was granted the right to drive across his neighbor's driveway to reach his home.
What is this right considered to be an example of ?

A. An appurtenance.
An appurtenance is considered a supplementary component of the land rights which is a right granted by the neighbor. It improves the new owners ability to gain access to the land.
(0 comments)

theory and practice: Real Estate Practice : Lesson 3996 - 03/23/15 06:14 AM
What is generally consdidered to be the most important economic characterisitic of any parcel of land ?
Remember, accessibility is also something that figures prominently into the equation when you consider this particular characterisitic of land.
Take your time. The solution can be found below the wildlife photo.

A. Location
Maximizing land's potential for best and highest use is a priority, and more so when value is considered.
(0 comments)

theory and practice: Real Estate Practice : Lesson 3995 - 03/23/15 06:11 AM
When we consider the right to control or use property or real estate, and to freely dispose of the property as we see to it at will or through a deed, these rights are incorporated into what system ?
Take your time. The solution is posted below the wildlife photo.

A. The bundle of legal rights ....
....which include possession, control, dispostion, enjoyment and exclusion.
(0 comments)

theory and practice: Real Estate Practice : Lesson 3994 - 03/23/15 06:09 AM
When we describe something aa unique it's considered to be scarce ?
Think of dissimilar and anything marked by dissimilarity.
True or false ?
Take your time. The solution is posted below the wildlife photo.

A. False
If it's considered unique it's considered non-homogenous, or unlike other aspects of the parcel in question.
(0 comments)

theory and practice: Real Estate Practice : Lesson 3993 - 03/23/15 06:08 AM
If a tenant farmer decides to build a hen house and a building for his tractor, who do these buildings belong to ?
Take you time. The solution is posted below the wildlife photo.

A. The tenant.
If the tenant constructs a building on the property he owns it, unless other arrangements are made with the property owner.
(0 comments)

theory and practice: Real Estate Practice : Lesson 3992 - 03/23/15 06:06 AM
If the buildings were blown to smithereens, vaporized, bombed, imploded or torn to pieces and the land is still there, what example has been established by recognizing that the land still in place ?
 
A. The indestructability of the land.
This is one of the most prominent aspects of land. Land, essentially, cannot be destroyed. It can be moved and displaced from the surface, but it extends to the center of the earth.
(0 comments)

theory and practice: Real Estate Practice : Lesson 3991 - 03/23/15 06:05 AM
If a landownber has npoated a "no trespassing" or "no hunting"  sign on his or her property, what stick in the bundle of legal rights is this person exercising ?

A. The right of exclusioon.
The right of exclusion gives the landowner the right to say who or what has a right to be on their property.
The other rights included in the bubdle of legal rights are the rights of "control", "enjoyment" and "disposition".
(0 comments)

theory and practice: Real Estate Practice : Lesson 3990 - 03/16/15 11:14 AM
When we consider the methods of annexation, adaptation and the type of agreement, these are considered the legal tests for determining whether or not an item is land or real estate ?
True or false ?

A. False
The method of annexation, the type of adaptation, and the kind of agreement entered into are the legal tests for considering whether or not an item is real property or personal property.
In brief, the county assessors office might have more to do with whether or not an item is to be considered real property or personal property.
(0 comments)

theory and practice: Real Estate Practice : Lesson 3989 - 03/16/15 11:12 AM
If a property owner doesn't want to deal with the day to day task of managing an apartment complex or any other form of rental property the owner can hire a developer.
Is this true or false ?
Take your time. The answer is posted below the wildlife photo.

A. False
The property owner would hire a property manager to manage the property and see to the day to operation of it's affairs.
(0 comments)

theory and practice: Real Estate Practice : Lesson 3988 - 03/16/15 11:11 AM
Appraisal, financing, property management, and real estate developement are all specializations directly linked to state and governmental finance policies.
Is this true or false ?
Take your time. The solution is posted below the wildlife photo.

A. False
Financing, property management, appraisal and developement are considered separate professions within the real estate industry.
(0 comments)

theory and practice: Real Estate Practice : Lesson 3987 - 03/16/15 11:09 AM
When the population of a town suddenly increases demand for housing will start to decrease and so will real estate prices.
Is this true or false ?
Take your time. The answer is posted below the wildlife photo.

A. False
The opposite is true.
The demand for housing will begin to increase and home prices will start to follow the trend.
Prices will increase.
(0 comments)

theory and practice: Real Estate Practice : Lesson 3986 - 03/16/15 11:07 AM
When someone advises a client regarding a real estate matter and is advising this client for purchase of investment purposes this person is called a mortgage broker ?
True or false ?
Take your time. The answer is posted below the wildlife photograph.

A. False
A mortgage broker assists a client in the search to finance the property.
The person we're referring to is known as a real estate counselor.
(0 comments)

theory and practice: Real Estate Practice : Lesson 3985 - 03/16/15 11:05 AM
When we talk about retail space and office buildings we're usually speaking of examples of special use real estate and commercial property.
Please take your time. The answer is posted below the wildlife photo.
Is this true or false?

A. False
When we speak about office builkdings or any type of retail space we're referring to commercial property or commercial real estate.
Industrial real estate is real estate that includes factories and warehouses.
Special use real estate includes churches of housing facilities for the homeless.
(0 comments)

theory and practice: Real Estate Practice : Lesson 3984 - 03/16/15 01:03 AM
When we talk about REALTORS® we're talking about professionals that are members of the National Association of Real Estate Brokers.
Is this true or false ?
This is a very tough question, so please take your time before you scroll down below the wildlife photo for your solution.

 
A. False
When we talk about members of the National Association of Real Estate Brokers we're referring to Realists.
When we talk about REALTORS® we're talking about members of the National Association of REALTORS®.
 
All wildlife photos are royalty free.
(4 comments)

theory and practice: Real Estate Practice : Lesson 3983 - 03/16/15 01:00 AM
Power plants, warehouses and factories are considered examples of commercial property when the various classes of real estate are applied to identify such properties.
Is this true or false ?
Take your time. The solution is posted below the wildlife photo.

A. False
Power plants, warehouses and factories are not commercial properties.
They're classified as industrial properties because of the nature of the businesses they house.
(4 comments)

theory and practice: Real Estate Practice : Lesson 3982 - 03/16/15 12:58 AM
When we consider the supply of labor and the cost of construction we also consider that supply of labor and cost of construction will impact the demand for real estate in any market region.
Is this consideration true or false ?
Please take your time. The solution is posted below the wildlife photo.

A. False
Cost of construction and the supply of labor impact the supply of real estate in any market region.
Job opportunities and relocation, such as the opening of a military installation, can impact the demand for real estate or housing in all of it's aspects.
(0 comments)

theory and practice: Real Estate Practice : Lesson 3981 - 03/16/15 12:56 AM
There are five classes of real estate.
They are commercial, residential, agricultural, rental, and special purpose.
Is this characteriztion of the five classes of real estate true or false ?
Take your time. The solution is posted below the wildlife photo.

A. False
The five classes of real estate are commercial, residential, agricultural, industrial and special purpose.
Rental is not considered a class of real estate.
Rental property could find it's way into an investment category.
(0 comments)

 

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