#2912 When a buyer purchases a parcel of land and turns around and negotiates the sale of the oil rights to a petroleum refinery or mineral rights to a mining group what kind of right is the buyer rescinding to the buyer of the mineral or petroleum company ? Take your time. The solution is posted below the wildlife photograph. Subsurface rights. The buyer has given up the rights to the natural resources lying below the surface of the land in the sale negotiation. 07/10/2014

#2911 A man owns a building in a commercial section of the community. The man has a tenant that rents space in the property that he owns. The tenant operates a beauty parlor. The tenant has installed display shelves. These are fixtures fastened to the walls which house beauty products for sale to her customers. What are these fixtures commonly referred to by the owner of the property? Take your time. The answer is posted below the wildlife photo. The fixtures are known as trade fixtures and the fixtures may be removed by the tenant before the expiration of the lease. 07/10/2014

Can you watch this without falling out of your chair laughing ?   My cat, Max Mewsic loves traveling to the moon and back. He'll sit in his moon chair all day waiting for lift off.   He's almost fifteen years old, by the way, and not a day over two in spirit and health.   Enjoy !   -DS-   07/10/2014

#2910 A local construction company recently purchased 75 acres of land and decided to build a number of storage facilities on the property for the storage of building materials and machinery. What is the most significant and notable condition which has been satisfied by the construction of the storage facilities on the property ? The construction of the the storage facilities on the property establishes improvement of the property. When an improvement is built on a parcel of land it can have an impact on the land's value. Improvements can also have an effect on the land and neighborhoods surrounding it as well. 07/09/2014

#2909 When we talk about a REALTOR®, what kind of a person are we referring to ? Please take your time. The answer is posted below the wildlife photo. A REALTOR® is a member of the National Association of REALTORS®, which is also the nations largest trade organization supporting the needs of the real estate community.Many facets of the industry are examined under the aegis of this historical organization representing over a million members. 07/09/2014

#2908 When we consider the supply in the real estate markets, between the options of demographics, population, employment, and government financial policies, which one of these has the most impact ? A. Govermnment financial policies. The way the economy is behaving is the key to financing opportunities. The rate of inflation and whether or not the resources for mortgaging a home are available have an impact on the decision to purchase a home. When the Federal Reserve Board establishes the discount rate of interest for the money itlends to banks, the discount rate will have an effect on the interest rates the banks will charge to their borrowers. 07/09/2014

#2907 Appraisal, financing, property management and development may all be considered example of what ? A. All of these things are considered specializations within the real estate industry. Property management is the professional charge of effectively directing and watching the day to affairs of real estate. Appraisal is the professional estimate of a parcel of real estates market value. Financing is the funding of the financial resources necessary to make a real estate project a possible. Development is the act of improving by expanding, enlarging or refining some aspect of real estate. 07/09/2014

  #2906 What factor is most likely to influence the demand for real estate ? A. Employment opportunities and the wage levels offered. If wages are low and the opportunity for employment is scarce, the demand for real estate becomes low. If the reverse is true the demand for real estate is high. 07/09/2014

#2905 In general, when the supply of a certain commodity increases, what tends to evolve as a natural result of this phenomenon ? A. Prices tend to drop. Increase in supply can be the result of less demand or over-production, as well as other factors which may include stockpiling ( which may have the reverse effect because of an increase in demand) 07/09/2014

#2904 Some licensees, after dedicating years of service to marketing properties, might decide to retire but not get out of real estate all together. They may decide to help clients make decisions about investing in or purchasing property. What capacity would a licensee serve in this manner ? A. Real estate counselor 07/09/2014

#2903 An estmate of a property's market value conducted in a manner based on methods that have been established and undertaken by trained professionals applying professional judgement about market value is performed by whom ? Take your time. The answer is posted below the wildlife photo. A. A real estate appraiser 07/09/2014

  #902 What are the two characteristics that we consider to have the most impact when we consider the market value of the land ? Please take your time. The answers are posted below the wildlife photo.   A. Uniqueness and immobility. What we're considering here is that no two parcels of any  piece of land are the same. 07/09/2014

#2901 When we consider the words broker and REALTOR® are they alike or unrelated ? Take your time. The answer is posted below the photo. A. The terms are unrelated . A broker is a real estate licensee and a REALTOR® is a member of the National Association of REALTORS®. More specifically, the term REALTORS® or REALTOR® represents a proprietary, protected trademark owned by the national REALTOR® organizaton. 07/09/2014

  #2900 A farm earns $36,000 net after allowing for all expenses. The buyer wants a 6% return on the investment. What would the buyer pay for the farm to net a 6% return on the investment? A. $600,000 36000 net/0.06 or 6% return on the investment=600,000 paid for the farm 07/09/2014

   #2899 A salesman's half of a 5% commission for the sale of a 320 acre ranch at a cost of $1750 an acre would equal how much at settlement ? A. $14,000 320 acrestimes1750 an acre=560000 total cost for the ranchtimes0.05 or 5% commission rate=28000 in total commissiondivided by2=14000 half of the commission 07/09/2014

#2898 What is the cost of a lot 264 feet wide by 660 feet deep at a cost of 80000 dolars an acre ? Please take your time. The solution is posted below the wildlife photo. A. $320,000 264 feettimes660 feet=174240 square feetdivided by43560 square feet (the number of square feet in an acre)=4 acrestimes80000 per acre=320000 total cost for four acres 07/09/2014

#2897 If an apartment house cost $420,000, and it has a net income of $2800 per month, what percent would the apartment house return on the investment? Take your time. The solution is posted below the wildlife photo. A. 8% 2800 a monthtimes12months=33600 a yeardivided420000 cost of the building=0.08 or 8% return on the investment 07/09/2014

  #2896 A forty acre orchard sold for $22,000 an acre.The profit the seller made over the cost of the property was 10%.How much did the seller pay for the orchard ? Take your time. The solution is posted below the wildlife photo. A. $880,000 Multiply 22k times 40 and we see that the orchard sold for $880,000.Now let's divide 880k by 1.1 or the numer one plus the 10% profit (converted to a decimal .1). 880000divided by1.1=800000 originally paid for the orchard. 07/09/2014

#2895 I leased a storeroom to a business owner on a percentage basis.The lease calls for a monimun monthly rental of $4000 per month and 5% of the gross monthly business over $800,000.How much rent would I receive annually from the businessman if the businessman did a gross annual business of $1,200,000 ? Take your time. The solution os posted below the wildlife photo. A. $68,000 Here's how: Subtract 800,000 from 1.2 million to see that the businessman did a gross yearly business of 400,000 over the 1.2 million. 400000 times0.05 or 5% of the gross monthly business over 800k=20000 which is 5% ove the amount over 800k 4000 a month renttimes12 months=48000 a year in rent+20000 percentage of the amount over 800k=68000 in annual rent 07/09/2014

#2894 A real estate transaction closes on September 12, 2009.The taxes for 2009 are $8752.40 and they haven't been paid yet.They have to paid by the purchaser.When the taxes are prorated for the calendar year, what is the amount that has already been paid, and will this amount be a debit or a credit to the purchaser at the closing table?Will the purchaser owe any taxes for the calendar year and how much if any ? Take your time. The solution is posted below the wildlife photo. A. $6126.65, which is credit to the buyer because this amount was paid prior to the closing date covering 8 months and twelve days of the tax year prior to the purchaser's closing. Here's how it works:8752.4 taxes for the yeardivided by360 days=24.312222 a day 8752.4 taxes for the yeardivided by12 months=729.366667... 07/09/2014