Intro to RE Pt 1
An inspection performed to show results of the physical property condition.
This professional estimate of a property's market value is often required by lenders before approving a mortgage.
What is an Appraisal?
Defined as 'Land plus all human-made improvements.
What is Real Estate.
Cabinets in a kitchen attached to the wall.
Yes - Real Property
The goal is to have your cards total 21 or as close as possible without going over.
What is Blackjack
The business of bringing people together conducted by Brokers and sales people
What is a Brokerage? or What is a Real Estate Brokerage?
Dividing a large parcel of land into smaller, potentially buildable lots for homes.
This item was once personal property but is now considered part of the property because it is permanently attached.
What is a fixture?
Pool furniture next to an in-ground pool located in a residential backyard.
No - Personal Property
Players place bets on numbers, colors, or sections before a small ball is spun around a wheel to determine the winner.
What is Roulette?
A person or company hired to maintain and manage property on behalf of another.
What is a Property Manager? or What is Property Management?
This act prohibits discrimination in the provision of housing and housing related services (including lending) based in protected classes.
What is the Fair Housing Act?
Out of the six real property categories, a church or school is an example of
What is Special Purpose?
Book shelfs from IKEA that were built and placed in a bedroom.
NO - Personal Property
What is Craps
The business of providing funds for real estate transactions through loans secured by a mortgage or deed of trust.
What is Financing?
This is the difference between a property's market value and the amount still owed on the mortgage.
What is equity?
A meeting to educate clients about wants, needs, market trends, expectations...
Bathroom fixtures such as mirrors, toilets, and sinks.
YES - Real Property
This game is the lowest probability of a win for a player and the HIGHEST probability for the casino to profit.
What are Slot Machines
When the number of homes for sale is low but buyer interest remains high, this basic economic principle causes prices to increase.
What is supply and demand?
Accessory Dwelling Unit. Used for an additional dwelling on the property such as a container home or garage with loft apartment.
What an ADU is?
The three physical characteristics of Land
What is IMMOBILITY - INDESTRUCTIBILITY - UNIQUENESS
TVs that are mounted on a wall with a TV Mount
NO - Personal Property
(But the wall mount is! Why?)
This Blackjack strategy involves tracking high and low cards remaining in the deck to gain an advantage over the house.
What is Card Counting