REAL 4000: Martin UGA-Test 2
Questions Fully Solved.
Police Power - Answer gov't reg of real estate & private actions in order to protect health
safety and welfare of its citizens. Legal basis.
Monopoly - Answer every property occupies a unique location--> locational monopoly.
market failure w/in economic basis.
Externalities (positive and negative) - Answer how property is used in surrounding properties.
pos: target/walmart nearby
neg: traffic near property/bad neighbor. market failure
example of incomplete information - Answer no standard quality of building
How to overcome incomplete information - Answer building codes/req seller disclousures
building codes - Answer standards for construction of new/old buildings
stringency of building codes - Answer major detector of cheapest housing
zoning - Answer regulation of land use, population density, and building size by creating
geographical districts of similar uses
permitted uses - Answer which uses are allowed for a particular site
development density - Answer how much space can be built on a particular site
key elements of a zoning ordinance - Answer list of zoning classifications/zoning map
classification the ordinance may include - Answer set back requirements/minimum lot
sizes/bulk restrictions
bulk restrictions - Answer lot coverage/building height/floorspace to lot area ratio limits
Questions Fully Solved.
Police Power - Answer gov't reg of real estate & private actions in order to protect health
safety and welfare of its citizens. Legal basis.
Monopoly - Answer every property occupies a unique location--> locational monopoly.
market failure w/in economic basis.
Externalities (positive and negative) - Answer how property is used in surrounding properties.
pos: target/walmart nearby
neg: traffic near property/bad neighbor. market failure
example of incomplete information - Answer no standard quality of building
How to overcome incomplete information - Answer building codes/req seller disclousures
building codes - Answer standards for construction of new/old buildings
stringency of building codes - Answer major detector of cheapest housing
zoning - Answer regulation of land use, population density, and building size by creating
geographical districts of similar uses
permitted uses - Answer which uses are allowed for a particular site
development density - Answer how much space can be built on a particular site
key elements of a zoning ordinance - Answer list of zoning classifications/zoning map
classification the ordinance may include - Answer set back requirements/minimum lot
sizes/bulk restrictions
bulk restrictions - Answer lot coverage/building height/floorspace to lot area ratio limits
