REAL ESTATE

WHAT IS REAL ESTATE? Real estate is a pretty broad area. The basic definition of real estate is the land and anything attached to the land, whether it's natural or man-made. When you purchase real estate, you are purchasing the land and everything that goes with it.

DIFFERENT REAL ESTATE CAREERS

REAL ESTATE AGENTS Real estate agents help people buy and sell houses. They must be able to say approximately how much money a house is worth. They need to know what the neighborhoods in their towns are like. They must know the laws that have to do with buying or selling a house. They also can tell home buyers where to get a loan if they need more money to buy a house. In return for selling a house, real estate agents get to keep a small part of the money that the buyer paid for it. Real estate agents work for real estate brokers.

APPRAISERS An appraiser, or real estate appraiser, is trained and qualified in providing an estimate of the worth of a property such as a home or business.real estatebusiness An appraiser has an extensive knowledge of the market and performs a thorough analysis in order to create an accurate appraisal of a property's value. appraisal A qualified real estate appraiser will always present the appraisal in a written report that is clear in its meaning.present The contents of an appraisal report include the estimated value of the property, the date, the purpose of the appraisal and the signature of the appraiser. The appraisal must also identify the address of the property and maps or photographs may also accompany the report.

MORTGAGE BROKERS Often, people confuse mortgage brokers with lenders. A mortgage broker offers the loan products of various lenders, while a lender provides the actual loan money to the borrower. Essentially, a mortgage broker is a loan provider who serves as a liaison between borrowers and lenders. A broker can work within a firm or independently.mortgagebrokerslendersbrokerloanlendermoney A mortgage broker doesn't loan money. Instead, he or she works with borrowers, assisting them in finding appropriately matched mortgage loans.loans Typically, a mortgage broker will learn the needs of the borrower and do the work of shopping for the best loan deal from lenders offering that particular type of loan.shopping Brokers usually work with numerous lenders, attempting to match the right lender with each individual client. Some brokers actually have hundreds of lender contacts. Because they have so many lenders from which to choose, brokers are more likely to find loans for borrowers with special needs, like problem credit, than individual lenders.credit

How Does Technology Affect Real Estate? Technology has impacted the Real Estate field in many ways one example is, you can now search for listings online for any property on the market. Money Transactions can be made quickly via the Internet.

How is The Economy Affecting Real Estate????

Real Estate contributes 10% of the total U.S. economy's output. If real estate declines, so do construction jobs, thus potentially increasing unemployment.10% of the total U.S. economy's outputunemployment A decline in real estate sales eventually leads to a decline in real estate prices. This then reduces the value of everyone’s homes, whether they are actively selling it or not. This then reduces the amount of home equity loans the homeowner can get. This, then, reduces consumer spending. Over 70% of the U.S. economy is based on personal consumption. A reduction in consumer spending will contribute to a downward spiral in the economy. This results in further unemployment, further reduction in income, and further reduction in consumer spending. If the Federal Reserve doesn't intervene (by reducing interest rates), then the country could fall into a recession. The only good news about lower home prices is that it lessens the chances of inflation.Federal Reserverecessioninflation

REAL ESTATE TEAM Cindy Duran – Eighth Grade Elisa Morel – Eighth Grade Ayanna Shell – Seventh Grade Luis Rodriguez – Fifth Grade Monika Pearson – Fifth Grade Ms. LeBron – Technology Coordinator Ms. Colon – Literacy Coach

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