1.24.08

1.24.08 - 1.24.08 Chapter 1 The Nature of Real Estate and...

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1.24.08 Chapter 1 The Nature of Real Estate and Real Estate Markets Two types of property o Tangible Physical assets that can be owned o Intangible Non-physical assets such as stocks, bonds, mortgages, leases Real Estate as tangible asset o Structures (improvements on the land) Excavation and fill Sewers and other utilities Roads and driveways o “Raw” land Real estate as a bundle of rights o Exclusive possession of the real property o Use or enjoyment o Disposition o Can be unbundled in different ways Real estate as an industry and profession o Brokerage Team of people who lease properties (e.g. CBRE) o Development o Leasing o Property management Need good management If not maintained well, people won’t want to be there o Asset management Higher level of property management (prop. Managers report to asset manager) o Real estate Law o Appraisal o Market consulting Tell type of tenants to attract. What are competitors? What is rent? o
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This note was uploaded on 02/04/2008 for the course PPD 362 taught by Professor Nielson during the Spring '08 term at USC.

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1.24.08 - 1.24.08 Chapter 1 The Nature of Real Estate and...

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