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| Specific mortgage loan programs may allow low-income purchasers or first-time buyers to do which to interest or principal payments? |
Defer |
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gettarb Mon, 18 Oct 2010 18:15:30 GMT |
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| Police and fire protection, water, and many public utilities (gas, power, and telephone service, for instance) add to an area's desirability, as do various quasi-municipal authorities such as ports, public transportation, antipollution practices, and forest preserves. Which of the five major factors influencing the choice of property location does this statement describe? |
Governmental Structure |
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gettarb Mon, 18 Oct 2010 18:15:30 GMT |
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| Because prices have already been discounted to reflect lack of newness, purchasing an older home may result in riskier, more speculative investment T/F? |
F |
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gettarb Mon, 18 Oct 2010 18:15:30 GMT |
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| Which are comprised of prefabricated components that arrive on-site in units preassembled at factory and are then lifted into place with crane? |
Modular Homes |
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gettarb Fri, 15 Oct 2010 19:28:01 GMT |
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| Which often combine office space, stores, theaters, and apartment units and are popular in metropolitan areas? |
Highrise Developments |
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gettarb Fri, 15 Oct 2010 19:28:01 GMT |
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| Mortgaged property represents an investment because it is the purchase of an asset that has potential for |
Profit |
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gettarb Fri, 15 Oct 2010 19:28:01 GMT |
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| New home may be considerably more expensive than preowned home if the preowned market is oversupplied T/F? |
T |
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gettarb Fri, 15 Oct 2010 19:28:01 GMT |
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| Determining prospective homebuyer's ability to pay depends on which factor? |
All of the Above |
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gettarb Fri, 15 Oct 2010 19:28:01 GMT |
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| Buyer's being unable to recoup added costs for special features when property is resold is potential disadvantage of |
Building a new home to personal qualifications |
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gettarb Fri, 15 Oct 2010 19:28:01 GMT |
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| Which may merge such diverse land uses as housing, recreation, and commercial units into one self-contained development? |
Planned Unit Developments (PUDS) |
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gettarb Fri, 15 Oct 2010 19:28:01 GMT |
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| Because prices have already been discounted to reflect lack of newness, purchasing an older home may result riskier, more speculative investment T/F? |
T |
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gettarb Fri, 15 Oct 2010 19:28:01 GMT |
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| Which are existing structures that have been altered to become appropriate for residential use as either rental or condominium units? |
Converted-Use Properties |
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gettarb Fri, 15 Oct 2010 19:28:01 GMT |
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| In addition to residential units, which often provide shopping and recreational opportunities and, in some cases, health care facilities? |
Retirement Communities |
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gettarb Fri, 15 Oct 2010 19:28:01 GMT |
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| Ownership of condominium, which shares party walls with other units, involves which kind of ownership of common facilities such as halls, elevators, and surrounding grounds, as undivided interests? |
Shared |
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gettarb Fri, 15 Oct 2010 19:16:23 GMT |
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| Qualifying ratio used to determine prospective homebuyer's ability to pay depends solely on number of dependents and credit history T/F |
F |
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gettarb Fri, 15 Oct 2010 19:16:23 GMT |
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| Factors influencing home ownership include mortgage terms, ownership expenses, ability to pay, type of home, location, and which of the following? |
All of the Above |
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gettarb Fri, 15 Oct 2010 19:16:23 GMT |
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| As owner reduces debt on property, equity in property increases T/F? |
T |
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gettarb Fri, 15 Oct 2010 19:16:23 GMT |
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| Loan balance on real estate investment cannot exceed market value of investment T/F? |
F |
1 |
gettarb Mon, 18 Oct 2010 18:16:04 GMT |
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| Factors influencing home ownership include which of the following? |
All of the Above |
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gettarb Fri, 15 Oct 2010 19:10:18 GMT |
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| Which is constructed on lots that are owned by individual homeowners and may either be connected by common wall or be freestanding homes separated by airspace and attached to each other by exterior shingles and brick or siding? |
Townhouses |
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gettarb Fri, 15 Oct 2010 19:10:18 GMT |
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| Schools, colleges, places of worship, libraries, theaters, museums, zoos, sports attractions, and parks all constitute powerful sociological attraction to given community. Which of the five major factors influencing choice of property location does this statement describe? |
Cultural Advantages |
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gettarb Fri, 15 Oct 2010 19:10:18 GMT |
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| Lenders have traditionally used formula that monthly cost of buying home (PITI payment) should NOT exceed what percent of borrower's gross monthly income? |
25 to 28 |
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gettarb Fri, 15 Oct 2010 19:10:18 GMT |
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| Which type of housing is delivered on permanent chassis to purchaser's home site where it is connected to gas, water, and electricity? |
Manufactured Homes |
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gettarb Fri, 15 Oct 2010 19:10:18 GMT |
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| Five major factors concerning location of property include: (1) employment opportunities, (2) cultural advantages, (3) governmental structure, (4) social services, and (5) transportation T/F? |
T |
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gettarb Fri, 15 Oct 2010 18:28:50 GMT |
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| One of the ownership expenses that homeowner faces is loss of investment return that could be realized if money used to purchase home were available for income-producing investments T/F? |
T |
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gettarb Fri, 15 Oct 2010 18:28:50 GMT |
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| As owner reduces debt on property, equity in property decreases T/F? |
F |
0 |
gettarb Fri, 15 Oct 2010 18:28:50 GMT |
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Mortgaged property represents an investment because it is the purchase of an asset that has potential for profit
T/F? |
T |
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gettarb Fri, 15 Oct 2010 18:28:50 GMT |
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| Adjustable-rate loans have higher initial interest rates and make it more difficult for many buyers to qualify for mortgage loan T/F? |
F |
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gettarb Fri, 15 Oct 2010 18:28:50 GMT |
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| Ownership of condominium, which shares party walls with other units, involves shared ownership of common facilities such as halls, elevators, and surrounding grounds, as undivided interests T/F? |
T |
0 |
gettarb Fri, 15 Oct 2010 18:28:50 GMT |
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| A new home may be considerably less expensive than a preowned home if the preowned market is oversupplied T/F? |
T |
0 |
gettarb Fri, 15 Oct 2010 18:28:50 GMT |
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| Avoiding uncertainties concerning area development, future depreciation, and flaws in initial construction is a potential advantage of |
Purchasing a pre-owned home |
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gettarb Fri, 15 Oct 2010 18:28:50 GMT |
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| Market value of real estate investment can decrease as well as increase T/F |
T |
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gettarb Fri, 15 Oct 2010 18:28:50 GMT |
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| Before purchasing home, buyer must determine whether annual debt is sufficient to meet all costs of home ownership T/F? |
F |
0 |
gettarb Fri, 15 Oct 2010 18:28:50 GMT |
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| Buyer preferences influence marketability of particular property T/F? |
T |
0 |
gettarb Fri, 15 Oct 2010 18:28:50 GMT |
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| Factors influencing housing affordability include mortgage terms, ownership expenses, ability to pay, governmental structure, and investment considerations T/F? |
F |
0 |
gettarb Fri, 15 Oct 2010 18:28:50 GMT |
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| Qualifying ratio used to determine prospective homebuyer's ability to pay depends on such factors as amount of down payment, potential future earnings, number of dependents, credit history, and general economic conditions T/F? |
T |
0 |
gettarb Fri, 15 Oct 2010 18:28:50 GMT |
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| In time-share occupancy, multiple purchasers share ownership of single property and generally each owner is entitled to occupy property for definite, fixed period of time each year T/F? |
T |
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gettarb Fri, 15 Oct 2010 18:28:50 GMT |
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| In addition to the type of housing buyer wishes to purchase (condominium, single-family home, town house, etc.), it is important to also consider benefits of buying preowned home, a ready-built new home, or new home built to specifications T/F? |
T |
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gettarb Fri, 15 Oct 2010 18:28:50 GMT |
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