BRE 139, Real Estate Economics
Allan
05/23/2024
Textbook Author: Huber, Messick & Pivar
Chapter 11 & 12
Overview
The topic of Chapter 11 and 12 is an introduction to Real Estate Economics. This Chapters has many important concepts to learn and to remember, once I become a Real Estate Agent and Broker license in the future. This chapter covers a lot concepts, but the most important learning objectives that I learned from chapter 11 are farmland statistics, the farmland real estate market, farm types, changes in agricultural use, the farm crisis of the 80’s, modern threats to agriculture and land. The important learning objectives that I learned from chapter 12 are the economy and value, location analysis, types of leases, high-rises, office buildings, hotel, retail space, industrial property, changes in US, nonresidential investors, asbestos affects salability, tax inversion.
Key Concept 1
The first concepts that I learned from chapter 11 is farmland statistic (p. 315). The concept that I learned from this topic is farms are frequently given or sold to family members or sold to friends or neighbors. Farm is an enterprise having agricultural income of $1,000 or more. The definition of farm does not include farms having an income of less than $1,000.
Key Concept 2
The concepts that I learned from chapter 12 is about the economy and value (p. 337). The concept that I learned from this topic is real estate investors can frequently benefit by changes in demand and economic changes outside the command of the investors. The capitalization rate is the rate of return an investors want particular investment. The higher risk the higher rate of return of investor want to compensate for the risk.
Key Concept 3
The second concepts that I learned from chapter 12 is about the types of leases (p. 344). The concept that I learned from this topic is there are plenty types of leases, but the one that I read and understand is the triple net lease, also referred as a net lease. Net lease is when tenant make a fixed payment to the owner and pay taxes, maintenance, insurance, repair and all operating expenses.
Summary
by Allan Garcia
It was a very interesting chapter and I learned a lot about real estate economics. The most important concepts that I learned from chapter 11 and 12 are farmland statistic, types of leases, economy and value. This chapter helped me understand the important details information about this chapters and I’m sure that these information will help me grow as real estate agent. I am looking forward to learn the next chapters.
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