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부동산

Economic and Physical Characteristics of Land

2019.03.02 18:58 Views : 1732

Economic and Physical Characteristics of Land

Economic and Physical Characteristics of Land

There are five ECONOMIC characteristics of land. The acronym is D.U.S.T.S.

  • DEMAND - The more demand there is for a particular property, the more valuable it is to consumers looking for real estate.
  • UTILITY OR USEFULNESS - A three-bedroom house is more useful to consumers than a one- or two-bedroom house.
  • SCARCITY - One property will sell quickly if only a few properties in a particular area are on the market.
  • TRANSFERABILITY - When loans are available and rates are low, real estate is readily transferable from seller to buyer.
  • SITUS - The three most important economic characteristics of real estate are location, location, and location.

Lack of one of these items diminishes the market value of the property, which is the price a buyer will be willing to pay.

There are three physical characteristics of land:

  • IMMOBILE - Real estate is permanent.
  • INDESTRUCTIBLE - Land is permanent.
  • NONHOMOGENEOUS (Uniqueness) - Each parcel of land has its own unique characteristics. There are no two properties that are the same.
No. Subject Date Views
91 Chapter 8 Conclusion 2019.03.04 274
90 DEED 2019.03.04 100
89 warranty deed 여섯 가지의 covenant 2019.03.04 106
88 Chapter 7 (TEST) 2019.03.04 162
87 Chapter 6 Quiz 2019.03.04 446
86 부동산 용어 (A to Z) 2019.03.03 1619
85 TEST 5 - Correction 2019.03.02 275
84 Chapter 5 Conclusion 2019.03.02 117
83 Condominium Ownership and Time Shares 2019.03.02 103
82 Apartment Ownership - Cooperatives 2019.03.02 118
81 Water Information and Air Rights 2019.03.02 110
80 Water Information and Air Rights 2019.03.02 107
79 Water Rights 2019.03.02 94
78 Eminent Domain and Condemnation 2019.03.02 93
77 Environmental Regulation 2019.03.02 105
76 Zoning Laws and Building Codes 2019.03.02 137
75 Trade Fixtures 2019.03.02 104
74 Fixtures and Appurtenances 2019.03.02 1043
73 Personal vs. Real Property 2019.03.02 104
» Economic and Physical Characteristics of Land 2019.03.02 1732
71 Rights in Real Estate 2019.03.02 126
70 What Is Land? 2019.03.02 118
69 TEST 4 - Correction 2019.03.02 167
68 Chapter 4 - TEST 2019.03.02 171
67 Chapter 3 TEST (2nd) 2019.03.02 236
66 Chapter 3 TEST 2019.03.02 311
65 Exam Essentials 2019.03.01 158
64 Chapter 2 Test 2019.03.01 265
63 Chapter 2 Conclusion 2019.03.01 162
62 Elective Broker Courses 2019.02.28 120