ADMS 3810 Lecture : ADMS3810 Notes.docx

• School: York University
• Department: Administrative Studies
• Course: ADMS 3810
• Professor: John Glen

Document Summary

Consists of a large number of a separate markets differentiated by: geographical location: National or international: type of real estate: Since each location is unique and cannot be duplicated, it can be said that infinite number of markets exits. Analysis of the real estate: estimates the net operating income, deducts claims by lenders, government and others that have priority over the equity claim, estimates the residual cash flow that belongs to the equity owner. Property: property refers to things and objects capable of ownership, things and objects that can be used, controlled or disposed of by an owner. Concept of permanent attachment: the french word for real estate is immeubles or literally immovable, personal property is moveable whereas real estate is not. Bundle of rights: society defines the bundle of rights and can change the definitions from time to time. For example, zoning land for residential use eliminates the landowner"s right to put a factory on the site.