Estimating the market value of real estate is complicated by the unique characteristics of real estate markets. In contrast to stock markets, real estate markets are characterized by which of the following? A. Market prices are revealed almost instantaneously to prospective buyers B. Transactions require the buyer to obtain a large amount of information, resulting in relatively high transaction costs C. Market adjustments occur by the physical movement of real property assets D.Different real estate assets are perfect substitutes for one another E. The short amount of time that it takes to construct new buildings leads to rapid changes in demand
Estimating the market value of real estate is complicated by the unique characteristics of real estate markets. In contrast to stock markets, real estate markets are characterized by which of the following? A. Market prices are revealed almost instantaneously to prospective buyers B. Transactions require the buyer to obtain a large amount of information, resulting in relatively high transaction costs C. Market adjustments occur by the physical movement of real property assets D.Different real estate assets are perfect substitutes for one another E. The short amount of time that it takes to construct new buildings leads to rapid changes in demand
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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![Estimating the market value of real estate is
complicated by the unique characteristics of
real estate markets. In contrast to stock
markets, real estate markets are characterized
by which of the following?
A. Market prices are revealed almost
instantaneously to prospective buyers
B. Transactions require the buyer to obtain a
large amount of information, resulting in
relatively high transaction costs
C. Market adjustments occur by the physical
movement of real property assets
D.Different real estate assets are perfect
substitutes for one another
E. The short amount of time that it takes to
construct new buildings leads to rapid
changes in demand](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F46931857-b76f-4925-b2b2-6984d5fb968e%2Fa6555b48-e0ea-488b-89a8-c790c8740f05%2F70d9bj_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Estimating the market value of real estate is
complicated by the unique characteristics of
real estate markets. In contrast to stock
markets, real estate markets are characterized
by which of the following?
A. Market prices are revealed almost
instantaneously to prospective buyers
B. Transactions require the buyer to obtain a
large amount of information, resulting in
relatively high transaction costs
C. Market adjustments occur by the physical
movement of real property assets
D.Different real estate assets are perfect
substitutes for one another
E. The short amount of time that it takes to
construct new buildings leads to rapid
changes in demand
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