Principles of Real Estate 2 Exam With 100% Correct Answers

Principles of Real Estate 2 Exam With 100% Correct Answers Externalities - answerThe unaccounted effects that a land use imposes on surrounding parcels Comprehensive Plan - answerA local government's general guide to a community's growth and development based on the community's goals and objectives. Economic and Environmental Impact Statements - answerStudies of the effect that a new development will have on the economy or the environment of the region. Concurrency - answerThe requirement that public facilities and services, including roads, sewers, and schools, be available at the same time new development is completed. Affordable Housing Allocation - answerA requirement that encourages or mandates a "reasonable and fair" component of new housing construction for lower-income families. Urban Service Areas - answerAn area delineated around a community within which the local government plans to provide public services and facilities and beyond which urban development is discouraged or prohibited. Extraterritorial Jurisdiction - answerControl by a community of an area larger than the community or jurisdiction for planning and zoning purposes, granted by the state legislature, which allows local government to plan and control urban development outside their boundaries until annexation can occur. Smart Growth - answerPlanning philosophy that embraces revitalization of existing communities, compact design, walkable neighborhoods, sense of place, preservation of open spaces and critical environment, community involvement in development. New Urbanism - answerSchool of planning thought that seeks to revive residential neighborhood features of the pre automobile era, including sidewalks; houses with front porches located close to streets; narrow, gird pattern streets; and supporting nonresidential services interspersed within neighborhoods. Nonconforming Uses - answerA land use inconsistent with current zoning classification, but which is permitted to remain because it predated the current zoning. To be allowed to remain, the use must be uninterrupted, and the property structures cannot be substantially improved. Variance - answerA permitted deviation for a particular property for the applicable zoning requirement. To be granted only when the zoning ordinance imposes undue hardship to the property owner. Exclusionary Zoning - answerZoning that tends to exclude lower-income groups and it prohibited. Commission - answerPayment a real estate salesperson receives for services rendered, usually expressed as a percentage