3 Questions
What is the main difference between primary and secondary data?
Primary data is more reliable than secondary data
What are the four stages of a neighborhood life cycle?
Growth, stability, decline, and revitalization
What factors impact market analysis besides physical features?
Economic trends, government regulations, and social factors
Study Notes
- Market analysis involves identifying the area to be analyzed and the general market area.
- The four stages of a neighborhood life cycle are growth, stability, decline, and revitalization.
- Primary data is obtained firsthand and is generally more accurate and reliable than secondary data.
- Secondary data is gathered by other sources and published on a periodic basis.
- Physical factors that affect market analysis include location, topography, soil conditions, and climate.
- Economic trends, government regulations, and social factors also impact market analysis.
- Site description involves physical features and locational attributes.
- Legal restrictions, including zoning and building permits, affect site and improvement analysis.
- Improvement description includes general characteristics, floor structure, plumbing, electrical system, and roof.
- Site improvements such as parking areas and landscaping are also considered in improvement analysis.
Are you interested in real estate and market analysis? Test your knowledge with this quiz! Learn about the different stages of a neighborhood life cycle, the importance of primary and secondary data, and the various physical, economic, and social factors that impact market analysis. You'll also explore site and improvement descriptions, legal restrictions, and more. Sharpen your skills and become a real estate expert with this informative and engaging quiz.
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