Hi, I heard and saw your definition of the characteristics of land. I tried to google non fungible and was given a definition that did not apply to real estate. Did I spell the word incorrectly? Thanks
In my state they have only 3 physical characteristics and 4 economic characteristics called Physical: Immobility Indestructibility Uniqueness Economic Characteristics: Scarcity: Improvements Permanence of investment Location
I don't understand 'indestructible'. Like, couldn't an earthquake destroy property? If I'm not mistaken, the 1964 9.2 magnitude earthquake changed the topography of southern Alaska. I'm just wondering because although I've been told multiple times that land is indestructible, it's never been explained to me.
Hi Darby... I totally get what you're saying but its a macro view. Yes the earthquake destroyed the improvement and remolded the topography however, the SAME ground was preped and built upon again. Unlike a house that burns down... THAT house is gone forever. Yes you can build a new one but the elements of that improvement is gone. Now, for the exam... just know it's indestructable :o)
@@sarahhuston1447 Certainly the ease of which the transfer of title impacts value, it's not a major componet of either the economic characteristic of land nor is it a physical characteristic of land. Transferability is more a principle of valuation (appraisal topics) along with the principle of contribution, regressiona and progression, etc. Thanks for the question...!!! :o)
One statement is not exactly true, while it's true that a parcel of land cannot be moved, it can be dug out 100s of feet deep making it almost worthless unless it again be filled back to level.
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More exam prep materials at www.TheRealEstateClassroom.com
Thank you, Paul
Hi, I heard and saw your definition of the characteristics of land. I tried to google non fungible and was given a definition that did not apply to real estate. Did I spell the word incorrectly? Thanks
Thank you!!!
You're welcome!
Thank you for the video- makes studying for the test easier
Right on, that's the goal!
You're welcome
Best video and your simple explanation makes me get it well. Am on my 1 week of study. Yes, wish me luck. Thank you
Best of luck! You got this :o)
Awesome!..I'm definitely subscribing 🎀
Yay! Thank you!
Amazing explanation. Thank you!!!!
Great explanation, thank you! Question: Is deed restrictions part of physical characteristics?
Thanks for the question. It is not. Deed restrictions are considered Private Controls plaed on on real property.
Love love love these
Thank you!
thank you
You're welcome!
Hi!!
I have a question, Fixity is improvements?
the state of being unchanging or permanent... like an improvement :o)
Are there more materials on the website? It says the website is unavailable. You do a great job of explaining things.
The website is pretty basic
Helped me! Thanks
en que parte de venezuela queda TETSAS?
In my state they have only 3 physical characteristics and 4 economic characteristics
called
Physical:
Immobility
Indestructibility
Uniqueness
Economic Characteristics:
Scarcity:
Improvements
Permanence of investment
Location
me too
👍
I don't understand 'indestructible'. Like, couldn't an earthquake destroy property? If I'm not mistaken, the 1964 9.2 magnitude earthquake changed the topography of southern Alaska. I'm just wondering because although I've been told multiple times that land is indestructible, it's never been explained to me.
Hi Darby... I totally get what you're saying but its a macro view. Yes the earthquake destroyed the improvement and remolded the topography however, the SAME ground was preped and built upon again. Unlike a house that burns down... THAT house is gone forever. Yes you can build a new one but the elements of that improvement is gone. Now, for the exam... just know it's indestructable :o)
what about transferability?
Hi Sarah... can you be more specific? Thank you!
@@TheRealEstateClassroom i thought transferability was an economic characteristic of real property but did you mention it? thanks!
@@sarahhuston1447 Certainly the ease of which the transfer of title impacts value, it's not a major componet of either the economic characteristic of land nor is it a physical characteristic of land. Transferability is more a principle of valuation (appraisal topics) along with the principle of contribution, regressiona and progression, etc. Thanks for the question...!!! :o)
I need someone to tell me what’s a good example of land being indestructible
You cant destroy a parcel of land like you can burn a house down. You can do a lot of destruction, but not destroy it...
Different names of the characteristics??
Hello I’m studying for the state test need a help.
Hi Tina, how can we help?
1 more characteristic Modification?
hello im taking my test soon i need some help please give me your info
One statement is not exactly true, while it's true that a parcel of land cannot be moved, it can be dug out 100s of feet deep making it almost worthless unless it again be filled back to level.
😅