Transcript Real Estate Jeopardy - OnCourse Publishing

Real Estate QUIZMASTER
Definitions
Analytical
Rent vs. Buy
Numerical
Miscellaneous
100
100
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200
200
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300
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400
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“Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner
Real Estate QUIZMASTER
Analytical
Rent vs. Buy
Numerical
Miscellaneous
100
100
100
100
100
200
200
200
200
200
300
300
300
300
300
400
400
400
400
400
500
500
500
500
500
Definitions
“Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner
Definitions for 100
FHA
“Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner
Definitions for 200
The avoidance of any
lending in specific
geographic areas based
on a presumption of risk
“Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner
Definitions for 300
Prepaid interest rate
charges to the mortgage
borrower
“Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner
Definitions for 400
This act began requiring
pro-active lending in all
areas from which
deposits are collected
“Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner
Definitions for 500
GNMA
“Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner
Analytical for 100
If demand increases in
the rental housing
market, rate of return
will ________
“Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner
Analytical for 200
Having the seller pay the
points results in lower
capital requirements by
the borrower at ______
“Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner
Analytical for 300
A decrease in household
size has caused the
number of households to
_____
“Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner
Analytical for 400
If supply increases in the
rental housing market,
rents will ________
“Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner
Analytical for 500
A near peak situation in the
stock market could ______
the short term demand for
owned housing
“Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner
Rent vs. Buy for 100
Most buyers wish to wait
until they can personally
finance at least ____% of
the purchase price
“Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner
Rent vs. Buy for 200
The length of time a
household expects to stay
in a particular location has
this effect on the likelihood
of it becoming an owner
“Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner
Rent vs. Buy for 300
The higher a person’s
income tax rate, the
_____ likely they are to
own vs. rent
“Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner
Rent vs. Buy for 400
The ______ your home
aspirations, the longer you
will wait to enter the home
owner cycle
“Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner
Rent vs. Buy for 500
The budgeting certainty
of renting is more
appealing to households
with _____ savings
“Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner
Numerical for 100
Currently, an owner can
exclude up to $_______
of capital gain every 2
Years
“Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner
Numerical for 200
In the U.S., the total
value of owner occupied
housing which includes
land is about $______
“Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner
Numerical for 300
If mortgage interest is
$2,600, property taxes are
$900, and the after tax
costs are $2,800, the
federal tax bracket for the
household is ___%
“Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner
Numerical for 400
Average new housing
has increased to
approximately ______
square feet in the year
2003
“Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner
Numerical for 500
Assuming that lenders do not want to
see monthly payments > 25% of
household income, what is the
maximum value of a house for a
household income of $100,000 when
mortgage rates for a 85% LTV are 10%
paid monthly? (Ignore upfront/ closing costs)
“Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner
Miscellaneous for 100
The FNMA is also called
_______ Mae
“Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner
Miscellaneous for 200
Demand for homes is
highest during this
season
“Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner
Miscellaneous for 300
Of the various before tax
costs, the most significant
monthly cash flow item for
recent homeowners tend
to be the _______
“Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner
DAILY
DOUBLE
“Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner
Daily Double
Miscellaneous for 400
The older the residents
of a household the
_____ likely they are to
be homeowners as
opposed to renters
“Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner
Miscellaneous for 500
Approximately ___% of
all American
households own their
own home (as in 2000)
“Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner