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ACTIVITY: Real Estate Market Forecast (Term Paper Part 5) For this assignment, y

ACTIVITY: Real Estate Market Forecast (Term Paper Part 5)

For this assignment, you will simply type your paragraphs into the text box here. First, click the “Submit” button. A text box will appear. Type your contact information and then your two paragraphs. Then click the “Submit” button again. Remember, please SAVE a copy of your assignment to a Microsoft Word document or google doc. You will need a copy of it later for your final paper, “Real Estate Economic Forecast,” in which you will analyze the local real estate market and predict the future trends. SCROLL DOWN TO THE END TO VIEW A SAMPLE ASSIGNMENT.

Instructions

Begin with your name, date, and class number at the top of the paper. Write 2 paragraphs about Economic Principles and Theories. Each paragraph must be at least 5 sentences long and include at least one citation (page number from the textbook). Please use and cite. the. textbook Attached. text book . Please. no plagiarism. no. A I. no Chat bots. original work only. if. report is more than 2%. I will ask. to redo or a refund .Please use. template as a guide. but. do not copy from the template. original words please.

In the first paragraph, select and answer only FIVE (5) of the following questions in complete sentences based on Chapters 13 and 14 of the textbook. Do NOT use numbering or bullet points and do NOT include these questions/prompts in your responses:

  • What is land use planning, and what are some various viewpoints regarding planning for city development (pages 375 – 380)?
  • Explain the use of a city master plan (p. 380), and give an example of a local city’s master plan (find it by googling). Be sure to cite the source.
  • Define an environmental impact report (EIR) and share an example of how it is used in real estate development (pages 380 – 382).
  • What is the importance of zoning as a police power of the local government? Give examples of 2 types (pages 382 – 387).
  • Identify a problem, issue, or obstacle of planning and land control (pages 388 – 394)
  • Distinguish between the three types of real estate developments (pages 401, 403). Non-residential can also mean “commercial”.
  • What are the economic effects of real estate development (pages 403 – 404)?
  • Describe some of the risks encountered by developers (pages 406 – 408).
  • List the four agents of production utilized by developers (page 411, top of page).
  • Classify the elements required to produce a profit in real estate development (pages 410 – 413).
  • Explain how financing is a crucial component of planning and developing real estate (pages 416 – 417)

In the second paragraph, answer the following questions in complete sentences based on research resources (cite your sources). Do NOT use numbering or bullet points and do NOT include these questions/prompts in your responses:

  • What do you predict for the real estate market in the next year?
  • Two years?
  • Five years?
  • 10 years? 20 years?
  • Explain how you came to these conclusions, based on your research of the current market situation, data sources / trends recognized, and your own educated prediction.

If you use any sources (other than your own original work), you MUST cite them in your paragraph, and reference them at the end.

Research Sources

  • Huber textbook, Chapter 2 (pages 56-66)

Stats, Data, & Trends from National Association of Realtors(R)

  • https://www.nar.realtor/research-and-statisticsLinks to an external site.
  • https://cdn.nar.realtor/sites/default/files/documents/2021-nar-real-estate-forecast-summit-the-year-ahead-economic-and-real-estate-outlook-lawrence-yun-presentation-slides-12-15-2021.pdfLinks to an external site.
  • https://cdn.nar.realtor/sites/default/files/documents/2021-11-12-residential-economic-issues-and-trends-lawrence-yun-presentation-slides-11-12-2021.pdfLinks to an external site.
  • https://www.nar.realtor/commercial-market-insightsLinks to an external site.

Video Presentation

  • Dave Meyer, Bigger Pockets, Oct 22, 2021, A Housing Price Cooldown? | 2022 Housing Market Predictions, , Youtube
  • https://www.youtube.com/watch?v=70f0XhPRoC4Links to an external site.

Black Swan Events

Read the following article and analyze the chart. Black Swan Events: Short-term Crisis, Long-term Opportunity

  • https://advisor.visualcapitalist.com/black-swan-eventsLinks to an external site.

Rental Housing Data:

Depending on whether the property being tracked is residential or commercial, keeping up with market rental rates is a critical component of property management duties. Research can be achieved by viewing the following sources:

  • Marcus & Millichap 2012 National Apartment Report – http://thelandlordtimes.com/?q=story/market-trends/marcus-%26amp%3B-millichap%3A-2012-national-apartment-reportLinks to an external site.
  • CoStar Market Analytics – http://www.costar.com/products/costar-market-analyticsLinks to an external site.
  • RentOmeter for residential houses – https://www.rentometer.comLinks to an external site.
  • HUD Fair Rental Rates – https://www.huduser.gov/portal/datasets/fmr.htmlLinks to an external site.
  • Institute of Real Estate Management – http://www.irem.orgLinks to an external site.
  • Landlord Association – http://www.landlordassociation.orgLinks to an external site.
  • National Apartment Association – http://www.naahq.orgLinks to an external site.

Economic Information:

Real estate professionals must understand real estate economics. Economic market conditions, business cycles, and real estate cycles strongly influence the value of real estate. Staying abreast of economic research includes researching statistical sources such as:

  • The Conference Board Inc.’s Economic Indicators – https://www.conference-board.orgLinks to an external site.
  • S. Census Bureau Statistical Abstract of the United States – http://www.census.gov/epcd/abstract/statistical-abstract-us.htmlLinks to an external site.
  • Gary Keller’s Vision Speech 2016 Family Reunion – http://kwnetlease.com/gary-kellers-2016-vision-speech-family-reunionLinks to an external site.
  • Building Owners & Managers Association – http://www.boma.org/Pages/default.aspxLinks to an external site.
  • National Association of Residential Property Managers – http://www.narpm.orgLinks to an external site.

It is also recommended that a real estate professional belong to a professional association or a trade industry group. These organizations typically have economists and attorneys who advise the members of the latest changes. By understanding economics, researching the rents, and belonging to a professional organization, property managers can be an enormous asset to their owner clients and become invaluable team members.

EXAMPLE

Below is an example. Do NOT copy the wording, but you can use the structure as a template to follow.

Name: Ima Student

Date: January 1, 2022

Class: BRE-139-xxxx

Textbook: Huber, et al., 2016

Real Estate Market Forecast

Land use planning is …, and one viewpoints regarding planning for city development is… (p. 375). An environmental impact report (EIR) is … and it is used in real estate development by … (pp. 380 – 382). The three types of real estate development include … (pp. 401, 403). The four agents of production utilized by developers include: … (p. 411). Financing is a crucial component of planning and developing real estate because … (pp. 416 – 417).

Based upon my research of the current market situation, data sources, and nationally recognized trends, I predict the real estate market will … next year (cite source). In two years, I believe the market will … In five years, the real estate market is predicted to … In 10 years, I foresee the market… Lastly, although 20 years is a long time away, based on my research I see the real estate market…

References:

Huber, W., Messick, L. P., & Piva, W. (2016). Real Estate Economics (6th ed.). Covina, CA: Educational Textbook Company.

<insert other reference sources in APA format>

GRADING:

Assignment is worth 10 points. Grading will follow the Activity Grading Rubric, and will include:

  • Concepts: demonstrate comprehension of course topics
  • Critical Thinking: thorough and complete topic coverage
  • Mechanics: grammar, spelling, punctuation
  • Formatting: headings, spacing, layout

Assignment must be submitted in the text box here online by the due date.

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