Real Estate QUIZMASTER Definitions Analytical Rent vs. Buy Numerical Miscellaneous 100 100 100 100 100 200 200 200 200 200 300 300 300 300 300 400 400 400 400 400 500 500 500 500 500 “Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner

Real Estate QUIZMASTER Rent vs. Buy Definitions Analytical Numerical Miscellaneous 100 100 100 100 100 200 200 200 200 200 300 300 300 300 300 400 400 400 400 400 500 500 500 500 500 “Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner

F H A Definitions for 100 What is Federal Housing Administration “Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner

lending in specific geographic areas based on a presumption of risk Definitions for 200 The avoidance of any lending in specific geographic areas based on a presumption of risk What is Redlining “Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner

charges to the mortgage borrower Definitions for 300 Prepaid interest rate charges to the mortgage borrower What are Points “Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner

This act began requiring pro-active lending in all areas from which Definitions for 400 This act began requiring pro-active lending in all areas from which deposits are collected What is the Community Reinvestment Act “Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner

Definitions for 500 G N M A What is the Government National Mortgage Association “Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner

Analytical for 100 If demand increases in the rental housing market, rate of return will ________ What is Increase “Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner

Analytical for 200 Having the seller pay the points results in lower capital requirements by the borrower at ______ What is Closing “Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner

Analytical for 300 A decrease in household size has caused the number of households to _____ What is Increase “Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner

If supply increases in the rental housing market, rents will ________ Analytical for 400 If supply increases in the rental housing market, rents will ________ What is Decrease “Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner

Analytical for 500 A near peak situation in the stock market could ______ the short term demand for owned housing What is Increase “Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner

Rent vs. Buy for 100 Most buyers wish to wait until they can personally finance at least ____% of the purchase price What is 10% “Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner

Rent vs. Buy for 200 The length of time a household expects to stay in a particular location has this effect on the likelihood of it becoming an owner What is Increases it “Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner

Rent vs. Buy for 300 The higher a person’s income tax rate, the _____ likely they are to own vs. rent What is More “Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner

Rent vs. Buy for 400 The ______ your home aspirations, the longer you will wait to enter the home owner cycle What is Higher “Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner

Rent vs. Buy for 500 The budgeting certainty of renting is more appealing to households with _____ savings What is Less or Low “Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner

Numerical for 100 Currently, an owner can exclude up to $_______ of capital gain every 2 Years What is $250,000 “Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner

Numerical for 200 In the U.S., the total value of owner occupied housing which includes land is about $______ What is $6 trillion “Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner

Numerical for 300 If mortgage interest is $2,600, property taxes are $900, and the after tax costs are $2,800, the federal tax bracket for the household is ___% What is 20% “Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner

Numerical for 400 Average new housing has increased to approximately ______ square feet in the year 2003 What is 2,200 “Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner

Numerical for 500 Assuming that lenders do not want to see monthly payments > 25% of household income, what is the maximum value of a house for a household income of $100,000 when mortgage rates for a 85% LTV are 10% paid monthly? (Ignore upfront/ closing costs) What is $237,398 “Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner

The FNMA is also called _______ Mae Miscellaneous for 100 The FNMA is also called _______ Mae What is Fannie “Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner

Demand for homes is highest during this season Miscellaneous for 200 Demand for homes is highest during this season What is Spring “Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner

Miscellaneous for 300 Of the various before tax costs, the most significant monthly cash flow item for recent homeowners tend to be the _______ What is the Mortgage Payments “Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner

DAILY DOUBLE “Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner

Daily Double Miscellaneous for 400 The older the residents of a household the _____ likely they are to be homeowners as opposed to renters What is More “Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner

Miscellaneous for 500 Approximately ___% of all American households own their own home (as in 2000) What is 67% “Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner