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The real estate business is more than just houses. As this
chapter says, “Real estate is big business,” and includes
commercial properties, condominiums, and open land in
addition to single-family homes.
Introduction to the Real Estate
Business
Introduction to the Real Estate Business
Learning Objectives
Identify the various careers available in real estate,
and the professional organizations that support them
Describe the five categories of real property
Explain the operation of supply and demand in the
real estate market
Distinguish the economic, political and social factors
that influence supply and demand
Introduction to the Real Estate Business
A Business of Many Specializations
Brokerage
Appraisal
Property management
Financing
Subdivision and development
Home inspection
Counseling
Education
Introduction to the Real Estate Business
Types of Real Property
Residential
Commercial
Industrial
Agricultural
Special Purpose
Introduction to the Real Estate Business
The Real Estate Market
Supply and Demand
Factors Affecting Supply
Factors Affecting Demand
Many types of property define real estate’s “product.”
Land is one of the fundamental concepts of real estate, as
well as “improvements” in the form of houses and
outbuildings. The fence suggests the limits of ownership.
Real Property and the Law
Real Property and the Law
Learning Objectives
Identify the rights that convey with ownership of real
property and the characteristics of real estate
Describe the difference between real and personal
property, and the various types of personalty
Explain the types of laws that affect real estate
Distinguish among the concepts of land, real estate
and real property
Real Property and the Law
Land - The earth’s surface extending downward to
the center of the earth and upward to infinity,
including permanent natural objects
Real Estate - Land at, above and below the
earth’s surface, plus all things permanently attached
to it, whether natural or artificial
Real Property - The interests, benefits and rights
that are automatically included in the ownership of
land and real estate
Real Property and the Law
Bundle of Legal Rights
Real Property and the Law
Real Property and the Law
Real Property Rights
Surface Rights
Subsurface Rights
Air Rights
Water Rights
Real Property and the Law
Personal Property
All property that does not fit the definition of real property
Manufactured Housing
Plants
Fixtures
Intent
Method of annexation
Adaptation to real estate
Agreement
Trade Fixtures
Real Property and the Law
Characteristics of Real Property
Economic Characteristics
Scarcity
Improvements
Permanence of investment
Location
Physical Characteristics
Immobility
Indestructibility
Uniqueness
Real Property and the Law
Laws Affecting Real Estate
Contract law
General property law
Agency law
Real estate license law
Federal regulations
Federal, state and local tax laws
Zoning and land use laws
Federal, state and local environmental regulations
A variety of housing types are available under the general
heading of “home ownership”: single family, small
multifamily residences, and high-rise condos.
Concepts of Home Ownership
Concepts of Home Ownership
Learning Objectives
Identify the various types of housing choices
available to home buyers
Describe the issues involved in making a home
ownership decision
Explain the tax benefits of home ownership and the
provisions of recent changes to the Tax Code
Distinguish the various types of homeowner’s
insurance policy coverage
Concepts of Home Ownership
Types of Housing
Apartment Complex
Condominium
Cooperative
Planned Unit Development (PUD)
Retirement Community
Concepts of Home Ownership
Types of Housing
Highrise Development
Converted-use Property
Manufactured Housing
Modular Homes
Time-share
Concepts of Home Ownership
Housing Affordability
Mortgage Terms
Ownership Expenses and Ability to Pay
Investment Considerations
Tax Benefits
Concepts of Home Ownership
Homeowner’s Insurance
Coverage and Claims
Basic vs. Broad-form Policies
Liability
Coinsurance Clause
National Flood Insurance Program
Thank You

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PPT for Elements That Effect Real Estate

  • 1. The real estate business is more than just houses. As this chapter says, “Real estate is big business,” and includes commercial properties, condominiums, and open land in addition to single-family homes. Introduction to the Real Estate Business
  • 2. Introduction to the Real Estate Business Learning Objectives Identify the various careers available in real estate, and the professional organizations that support them Describe the five categories of real property Explain the operation of supply and demand in the real estate market Distinguish the economic, political and social factors that influence supply and demand
  • 3. Introduction to the Real Estate Business A Business of Many Specializations Brokerage Appraisal Property management Financing Subdivision and development Home inspection Counseling Education
  • 4. Introduction to the Real Estate Business Types of Real Property Residential Commercial Industrial Agricultural Special Purpose
  • 5. Introduction to the Real Estate Business The Real Estate Market Supply and Demand Factors Affecting Supply Factors Affecting Demand
  • 6. Many types of property define real estate’s “product.” Land is one of the fundamental concepts of real estate, as well as “improvements” in the form of houses and outbuildings. The fence suggests the limits of ownership. Real Property and the Law
  • 7. Real Property and the Law Learning Objectives Identify the rights that convey with ownership of real property and the characteristics of real estate Describe the difference between real and personal property, and the various types of personalty Explain the types of laws that affect real estate Distinguish among the concepts of land, real estate and real property
  • 8. Real Property and the Law Land - The earth’s surface extending downward to the center of the earth and upward to infinity, including permanent natural objects Real Estate - Land at, above and below the earth’s surface, plus all things permanently attached to it, whether natural or artificial Real Property - The interests, benefits and rights that are automatically included in the ownership of land and real estate
  • 10. Bundle of Legal Rights Real Property and the Law
  • 11. Real Property and the Law Real Property Rights Surface Rights Subsurface Rights Air Rights Water Rights
  • 12. Real Property and the Law Personal Property All property that does not fit the definition of real property Manufactured Housing Plants Fixtures Intent Method of annexation Adaptation to real estate Agreement Trade Fixtures
  • 13. Real Property and the Law Characteristics of Real Property Economic Characteristics Scarcity Improvements Permanence of investment Location Physical Characteristics Immobility Indestructibility Uniqueness
  • 14. Real Property and the Law Laws Affecting Real Estate Contract law General property law Agency law Real estate license law Federal regulations Federal, state and local tax laws Zoning and land use laws Federal, state and local environmental regulations
  • 15. A variety of housing types are available under the general heading of “home ownership”: single family, small multifamily residences, and high-rise condos. Concepts of Home Ownership
  • 16. Concepts of Home Ownership Learning Objectives Identify the various types of housing choices available to home buyers Describe the issues involved in making a home ownership decision Explain the tax benefits of home ownership and the provisions of recent changes to the Tax Code Distinguish the various types of homeowner’s insurance policy coverage
  • 17. Concepts of Home Ownership Types of Housing Apartment Complex Condominium Cooperative Planned Unit Development (PUD) Retirement Community
  • 18. Concepts of Home Ownership Types of Housing Highrise Development Converted-use Property Manufactured Housing Modular Homes Time-share
  • 19. Concepts of Home Ownership Housing Affordability Mortgage Terms Ownership Expenses and Ability to Pay Investment Considerations Tax Benefits
  • 20. Concepts of Home Ownership Homeowner’s Insurance Coverage and Claims Basic vs. Broad-form Policies Liability Coinsurance Clause National Flood Insurance Program