Exam 2 Review Sheet

Exam 2 Review Sheet - Chapter 6 Book Elysian Forest-...

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Chapter 6 Book Elysian Forest- Planned unit development Palm Grove- Proposed office building Plane Vista- Proposed apartment expansion Class Market Considerations Value is based on demand- locational characteristics, nonlocational characteristics, and land use controls Demand is based on population growth, user preferences, employment, income, area regulations o LOCATION IS IMPORTANT- LINKAGES Example of Grand Central talking about time it takes to get to class as a linkage that appeals to student’s demand Supply is based on government regulations, interest rates, construction costs, lease rates, vacancies and availability Supply and demand are hardly ever in balance because it takes so long to build real estate. As soon as demand goes up people build, but then demand may die down. LEED Certification Additional costs for technology and certification Increased worker productivity Lower energy costs Social- able to say you own/rent green Critical Questions What is the real estate product under consideration? Who are the customers? Where are the customers? o Primary Market Area- area in which similar properties compete with the subject property for consumers What do the customers care about? Who are the competitors?
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Exam 2 Review Sheet - Chapter 6 Book Elysian Forest-...

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