Term
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Definition
| Legal interests associated with ownership in the physical real estate. |
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Term
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Definition
| All movable property such as clothing, boats, furniture, autos, etc. |
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Term
| 7 characteristics of real estate |
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Definition
Acronym: FUILLLL
- Fixed Location
- Uniqueness
- Interdependence of land uses
- Long life
- Long-term Commitment
- Long Gestation Period
- Large Transactions
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Term
| How much of the nation's wealth do land and structures make up? |
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Definition
Land and structures make up over two thirds of the nations wealth
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Term
| How much of the world's wealth does real estate consist of? |
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Definition
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Term
| What is the Dollar value of housing in the U.S. alone? |
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Definition
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Term
| What dollar amounts are there in securitized home mortgages, commercial mortgage backed securities, and real estate investment trusts. |
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Definition
| There are over $5.5 trillion of securitized home mortgages, $500 billion of commercial mortgage-backed securities (CMBS) and $200 billion of real estate investment trusts (REITs), much of which did not exist prior to the early 1990s. |
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Term
| What % of GDP does real estate, renting, and leasing make up in the u.s.? |
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Definition
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Term
| What 3 factors does land use greatly depend upon? |
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Definition
- Provision of public services
- Nearby land uses
- General economic vitality of the neighborhood and community.
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Term
| 5 Classification of real estate in the private market |
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Definition
- Owner Occupied Residential
- Renter Occupied Residential
- Commercial
- Farm and open land
- Industrial
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Term
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Definition
| The time between the conception of the idea of a development project and its completion and entry into the available supply. Includes acquiring the land, architectural plans, city approval, lending approval, building, and clear to finishing. |
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