ADMS 3810 Study Guide - Midterm Guide: Real Estate Broker, Life Estate, Adverse Possession

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

Document Summary

Real estate supply three special factors are involved when supply of real estate is discussed: time, place and substitution. Axial theory the axial theory is a direct takeoff on the concentric circle theory but picks up on an important factor affecting urban growth that burgess ignored: transportation axes or arteries. In the 1930s, homer hoyt developed what is known as the sector theory. This theory attempts to explain residential concentrations around the cbd. Cultural as well as economic factors would result in clustering at logical distances from major transportation routes. Class a office buildings typically have a modern and superior quality of exterior curtain walls, state of the art mechanical, electrical and life safety systems and a high quality interior finish. These more prestigious office buildings are typically occupied by the city"s premier office users and have a definitive market presence. Given all the above, class a buildings command premium rents.