Term
| Who Decides What will Be Produced |
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Definition
| The consumer actually decides what will be produced. |
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Term
| Who Will do the Producing |
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Definition
| The most efficient producer of a comparable quality product will go on doing the producing. |
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Term
| Who will get what is Produced |
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Definition
| Those people who have money and are willing to spend it will get what is produced. |
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Term
| Real Estate Market Characteristics |
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Definition
Immobility of Real Estate.
Market is slow to respond to change in supply and demand.
Land is indestructible.
Real Estate is unique.
Government controls influence the market via zoning, building codes and taxes. (direct controls)
Monetary - (indirect control) |
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Term
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Definition
The amount and type of real estate available for sale or rent at differing price levels in a given real estate market.
Variables - Availability of
Skilled Labor
Construction Loans and Finance
Land
Materials |
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Term
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Definition
The desire and ability to purchase or rent goods and services.
Variables -
Price of Real Estate
Population numbers and househould comp
Income of consumers
Avail of Mort Credit
Consumer taste or preferences |
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Term
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Definition
| Any person or group of persons occupying a separate housing space. |
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Term
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Definition
| New residents moving to a location from other places |
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Term
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Definition
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Term
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Definition
| Number of excess units in market allows potential buyer to shop amoun anxious owner sellers to obtain better prices and terms. |
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Term
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Definition
| Sellers demand higher prices from buyers who are forced to compete for available space. |
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Term
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Definition
Price Levels
Vacancy Rates - 95% vacancy rate indicates a healthy market.
Sales Volume |
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