Characteristics of land – land is broken down into two categories: physical characteristics of land and economic characteristics of land. You will need to be familiar with both. Key real estate terms you should know once you’ve completed this video:

*Real Estate Key Terms*
Immobility: Land in a fixed location
Indestructibility: Land can’t be destroyed
NonHomogeneity: No two parcels of land are alike
NonFungible: Can’t substitute one parcel of land for another
Scarcity: Supply and demand of a parcel of land
Situs: The location of a parcel of land
Durability: Improvements made to a parcel of land
Specific Performance: A rememdy in court to force a party to “specifically perform” with the terms of a contract

* Principles & Practices Students – Page 16 of your textbook *
Best of luck with your studies…

✅ Subscribe for more FREE tips on how to do YouTube better:
https://www.youtube.com/therealestateclassroom?sun_confirmation=1

➡️Have you seen my latest video:
https://youtu.be/3dYyBqxydb0

🛑Recommended Videos
How to Calculate Property Taxes
https://youtu.be/Y8un1yjgfII

💕My Most Watched Videos:
Real Estate Agent Bookkeeping Spreadsheet – Updated for 2020
https://youtu.be/0l7kWqs5eoQ

Escalation Clauses: What Real Estate Agents Need to Know
https://youtu.be/dzJeKjK_xFw

👉 The Real Estate Agent’s Business Plan Template:
https://youtu.be/Ci29MOCYRx4

You can find me hanging out most days on Facebook!
Facebook: https://www.facebook.com/TheRealEstateClassroom

New real estate exam prep videos uploaded 2-3x per week to students pass their real estate exam. Feel free to leave a comment, suggestion, or questions asked in the comment section.

Email me: PaulVojchehoske@gmail.com

Paul Vojchehoske
Mr. Real Estate Seminars, Inc.
The Real Estate Classroom
P. O. Box 540725
Omaha, NE 68154
(402) 660-0395

This description may contain affiliate links to products we enjoy using ourselves. Should you choose to use these links, this channel may earn affiliate commissions at no additional cost to you. We appreciate your support!

P.S. Nothing in this video shall be construed as legal or financial advice and is for INFORMATIONAL purposes only! Please consult with a competent attorney, financial advisor, and your broker before implementing anything you’ve learned from this video. Likewise, the issues discussed herein may not be applicable in your state or local jurisdiction.

Cheers,
Paul Vojchehoske


Subscribe to our channel on Youtube for all of our latest video content.

Subscribe

Newsletter

Sign up for our newsletter Subscribe to our to stay up-to-date on the latest real estate news and education.