Exam 6: Forecasting Ownership Benefits and Value: Market Research

Preferences of households can vary with time,prosperity,and context.The nuances in the preferences or needs of market subgroups are commonly referred to as:

A planned unit development (PUD)is a residential development that differs from traditional residential subdivisions in all of the following ways EXCEPT:

Survey research has been applied to real estate markets at many levels.Despite its frequent application,analysts must be cautious with survey use because:

A new residential development will face competition from other new developments,other builders,and sales of existing homes.To determine if demand in that market segment will be sufficient to justify proceeding with the project,a developer would be most interested in estimating a:

Development of subdivisions,apartments,offices,or other commercial structures can have a lead time of two years or more.In general,the longer the construction lead time:

In collecting data for nonresidential property analysis,it is helpful to understand the business community that currently exists in the specific area in question.A preliminary approach for ascertaining the number of firms by size,industry,and location is to obtain data from:

In the initial round of market analysis,analysts will attempt to provide key numbers that characterize the current condition and trend in the market.For rental retail space,the key market parameters in question would most likely include all of the following EXCEPT:

In the Palm Grove Office Complex example,the project was destined to be ill-fated venture from its inception for all of the following reasons EXCEPT:

While predicting real estate cycles is difficult,a key indicator used to evaluate where a property is within the cycle is:

A popular adage in real estate is that property value is all about "location,location,location." However,for most property types in nonresidential realms,nonlocational requirements are equally or even more important.All of the following are examples of nonlocational factors EXCEPT:

A tool used by real estate analysts to relate a consumer's activities,interests,opinions,and values to a consumer's demographics is referred to as:

In contrast to conventional market analysis,the "story" approach to market research starts with an analysis of:

In the Elysian Forest example,the planned unit development was destined to be an unsuccessful venture from its inception because:

Computer software systems that enable one to manipulate and "map" information with great flexibility and speed are referred to as:

In constructing a market-defining "story," it is helpful to answer a series of fundamental questions around which analysis can be built.Which of the following questions is designed to identify the target market?

Since most data for a given market study is not readily available,analysts must be creative in their use of data that they are able to obtain.The primary source for detailed household demographic information is:

The presence of real estate cycles presents a major challenge when forecasting real estate market parameters.If the market value of a residential developer's project exceeds its construction costs,an increase in the supply of units will occur,which will most likely be followed by:

Real estate market research is an important process used by analysts to facilitate a better understanding of a property's future profit potential.All of the following statements regarding market research are true EXCEPT:

The most common definition of a city used for government data collection and reporting,identified as a single labor market area centered around a city with a population of at least 50,000 people,is referred to as a:

Professor James Graaskamp often asserted that when one buys real estate,what one is buying is a set of assumptions about the future.Therefore,it is not surprising that the beginning point of the market research process is to: