Are 144 - Are 144 Molly Abramson Zach Kelvin Marcos...

Info iconThis preview shows pages 1–3. Sign up to view the full content.

View Full Document Right Arrow Icon
Are 144 Molly Abramson Zach Kelvin Marcos Dominguez Eric Woo Chris Casas 1. Intro: Difficult Job market a. This is a good thing though because you’re living like a college student and haven’t adjusted your spending patterns. i. You’ll also do a lot of learning in this market. b. If you had a job and lost it, it’s hard to adjust down bc you have mortgage payments and car payments. 2. Real estate Economics a. Course Manuel b. This course is geared towards the long term RE investor. 3. The supplemental reading is about spending & savings habits, finance. Only read if you’re interested. a. Barons is an investment journal for hedge fund managers and big finance investment banks. 4. Between 3 and 6 pop quizzes. 5. Thursday, April 2, 2009 6. CH 1 7. Real estate Defined This is the best time to get into real estate with everyone in real estate getting killed. The people who are dead now over leveraged and dind’t have enough liquidity and had very flexible interest rates. 2-3 years ago, RE was hot, there seemed to be risk, there was a huge waitlist. Now people are scared. People didn’t care about positive cash flow, they simply bet on appreciation on capital. Why is RE important? Public policy stems from RE policies. RE ownership, property planning is affected. Appraisal industry is good to get into to determine what the market would/should pay. It’s good if you want to be a RE investor. Not easy to get into bc we’ll get into barriers, mostly bc it consumes a lot of money. Instead, you can get an appraisal job and get the foot in the door. a. Geographical fixity or immobility b. Heterogeneity c. Physical deterioration and Property management 8. Real Estate Markets a. Market Inefficiency b. Liquidity and Marketability c. Large Minimum Size of Investment 9. Types of Real estate a. Unimproved Real Estate b. Improved Real Estate i. housing tracts ii. development
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
iii. parcel maps iv. entitlements v. finished lots vi. zoning 10. Land Uses a. Residential Real Estate i. Single Family ii. Multi Family 11. Legal characteristics a. Property Rights i. Exclusive possession ii. Quiet Enjoyment iii. Disposition b. Realty vs. Personalty i. 12. Real estate Defined: a. legally, RE is the land and that which is fixed on the land. It also includes the land below it and the mineral rights and the airspace above to a limit. Usually up to the limit of the highest man made object, not up into airspace. . A little distinction: RE is the land and the stuff fixed to the land. Real Property is the interest in that land and what is fixed to the land. b. Geographical fixity or immobility i. RE is fixed in location Unlike security and trust deeds, RE can’t be moved. It can’t move around like stocks and bonds, you have to actually visit the place. ii.
Background image of page 2
Image of page 3
This is the end of the preview. Sign up to access the rest of the document.

This note was uploaded on 04/11/2009 for the course ARE 144 taught by Professor Johnson,e during the Spring '08 term at UC Davis.

Page1 / 16

Are 144 - Are 144 Molly Abramson Zach Kelvin Marcos...

This preview shows document pages 1 - 3. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online