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This document discusses key concepts in real estate analysis including definitions of real estate as a physical asset and industry. It covers the three markets of real estate - user, capital, and property markets. It also summarizes different types of property rights and interests like the bundle of rights, estates including fee simple absolute and life estates, and non-possessory interests like easements and liens. Key characteristics of real estate like heterogeneity and illiquidity are examined.
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- 1. MBA 590 RealEstate Analysis ! College of Business Alfaisal UNIVERSITY
- 3.
- 4. Review What isReal Estate?
- 5. Review What isReal Estate? physical, bundle, industry
- 6. Review What isReal Estate? physical, bundle, industry
- 7. Review What isReal Estate? physical, bundle, industry Three markets
- 8. Review What isReal Estate? physical, bundle, industry Three markets user, capital, property
- 10.
- 11. IRV Income, Rate,Value
- 12. IRV Income, Rate,Value Different
- 13. IRV Income, Rate,Value Different heterogeneous (age, building, design), immobile,
- 14. IRV Income, Rate,Value Different heterogeneous (age, building, design), immobile, illiquid, localized, segmented,
- 15. IRV Income, Rate,Value Different heterogeneous (age, building, design), immobile, illiquid, localized, segmented, private complex negotiations
- 16. IRV Income, Rate,Value Different heterogeneous (age, building, design), immobile, illiquid, localized, segmented, private complex negotiations
- 17. Chapter 2 ! Legal Foundations to Value
- 18. Chapter 2 ! Legal Foundations to Value
- 19. Value is afunction of rights
- 20. Value is afunction of rights no rights = no value
- 21.
- 22. Rights government protectedclaim non-revocable enduring
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- 24. Rights claims the government enforces
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- 26.
- 27.
- 28.
- 29. Two kinds ofRights
- 30. Two kinds ofRights Personal Property
- 31. Two kinds ofRights
- 32. Two kinds ofRights Personal Property
- 33.
- 34. Personal or Civil life expression assembly others
- 35.
- 36.
- 37. Property Exclusive Possession Enjoy Use
- 38. Property Exclusive Possession Enjoy Use Dispose
- 39. Two kinds of property Rights
- 40. Two kinds of property Rights Personal Real
- 41. Two kinds of property Rights
- 42. Two kinds of property Rights Personal Real
- 44.
- 45. Real rights inland and permanent structures
- 46. Real rights inland and permanent structures
- 47. Real rights inland and permanent structures Personal
- 48. Real rights inland and permanent structures Personal everything else
- 49. Real rights inland and permanent structures Personal everything else
- 56.
- 57.
- 58. Buildable Air Space Surface
- 59. Air Traffic Space Buildable Air Space Surface
- 60. Air Traffic Space Buildable Air Space Surface Subsurface
- 61. Air Traffic Space Buildable Air Space Surface oil, gas, mines, water Subsurface
- 66. MetLife Building NewYork City ! Build above the railroad right-of- way entering Grand Central Station
- 69. Subsurface rights canbe extremely valuable
- 70.
- 71. Fixtures personal property that has become real property
- 72.
- 73. Four Fixture Rules attachment adaptation intention relation
- 74.
- 75. Sale Contracts mustbe clear what are personal fixtures
- 77.
- 78.
- 79.
- 80.
- 81.
- 82.
- 83. Bundle of Rights Interests
- 84. Bundle of Rights Interests
- 86.
- 87.
- 88.
- 89.
- 90.
- 91.
- 92. Can separate interests different people can hold
- 93. Can separate interests different people can hold
- 94.
- 95. Possessory Interests Estates fee simple absolute tenancy at sufferance
- 96.
- 97. Fee Simple Absolute complete limited by government and prior owners
- 98.
- 99. Fee Simple Conditional fee simple as long as …
- 100.
- 101. Life Estate feesimple until someone dies ! Remainder Estate
- 102.
- 103. Legal Life Estate special rules for couples with children
- 104.
- 105. Leaseholds limited intime no disposition no title temporary right
- 106.
- 107. Estates owner freehold renter leasehold
- 108.
- 109. Ownership Estates withinheritance without inheritance
- 110.
- 111. Ownership with inheritance fee simple absolute ! conditional with reverter interest
- 112.
- 113. Ownership without inheritance life estate ! legal with remainder interest
- 114.
- 115. Leasehold Estates tenancyfor years periodic tenancy tenancy at will: tenancy at sufferance
- 116.
- 117. Tenant at Sufferance a former tenant does not leave
- 118.
- 119. Leasing Laws repair right of entry deposits notifications
- 120.
- 121. Non-possessory Interests rightsthat do not include possession
- 122.
- 123. Non-possessory Interests easements restrictive covenants liens
- 124.
- 125. Easement right touse land for a specific and limited purpose
- 126. Easement Right ! License Permit
- 127.
- 128. Easement Appurtenant dominant- servient runs with the land
- 129.
- 130.
- 131.
- 132.
- 133.
- 134. Easement Driveway Easement Dominant Parcel
- 135. Easement Driveway Easement Dominant Parcel Servient Parcel
- 136.
- 137. Easement Appurtenant driveways water, sewer, power, phone parking
- 138.
- 139. Restrictive Covenants clausein the deed limit uses
- 140.
- 141. Lien security foran obligation
- 143. Would you buildif you didn’t own the land?
- 144. Would you buildif you didn’t own the land?
- 145. Would you buildif you didn’t own the land? Would you loan someone the money to build if you could not get the property if they failed to repay?
- 148.
- 149. property rights provideincentives to create wealth
- 150.
- 151.
- 152.
- 153. Lien taxes mortgage mechanic’s
- 154. Lien taxes mortgage mechanic’s court
- 155. Lien taxes mortgage mechanic’s court order
- 156.
- 157. Co-Ownership business entity tenancy in common joint tenancy
- 158.
- 159. Condominium fee simpleto area common to elements can mortgage
- 160.
- 161. Condominium create alittle government for your building