Alberta Real Estate Fundamentals Latest Update with Complete Solutions

Alberta Real Estate Fundamentals Latest Update with Complete Solutions Real Estate The land and fixed improvements to the land Classes of License 1. Associate 2. Associate Broker 3. Broker 4 Areas of Practice 1. Residential 2. Commercial 3. Rural 4. Property Management Mobile homes fall under the same category as recreational properties False Industrial Properties Include warehouses and custom-built manufacturing plants Residential Income property Include low-rise and high-rise apartments, duplexes, fourplexes, and townhouses Characteristic: Scarce Identifies real estate as a limited resource Characteristic: Durable Identifies real estate as indestructible Characteristic: Fixed Identifies real estate as immobile Characteristic: Unique Identifies parcels of land as being different from one another Characteristic: Private Identifies how real estate transactions are conducted between a buyer and seller Characteristic: Supply/Demand Identifies the slow response of these 2 market forces affecting real estate Characteristic: Standardized Identifies the inability to marker properties for all areas of real estate in a universal approach Characteristic: Local Identifies real estate transactions as occurring in a defined area High volumes of mortgage lending reflect the lack of confidence in the safety and desirability of real estate False Booming local economy Sellers' market Contracting local economy