Real Estate Development Concepts

Real Estate Development Concepts

Assessment

Interactive Video

Business

9th - 12th Grade

Hard

Created by

Thomas White

FREE Resource

The video tutorial explains the process of determining minimum lot sizes, typically set by local planning commissions or government zoning ordinances. It covers the creation and submission of a subdivision plat map, converting acres to square feet, and calculating usable land. The tutorial also details how to determine the number of lots that can be developed, considering unusable land for streets and green spaces. It further discusses calculating profitability, setting lot prices, and ensuring a desired profit margin. The video concludes with additional considerations for real estate development.

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10 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Who typically determines the minimum lot size in a given area?

Real estate developers

Homeowners associations

The federal government

The local Planning Commission

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the role of zoning ordinances in real estate development?

They establish minimum lot sizes and land use regulations.

They determine the architectural style of buildings.

They manage the sale of properties.

They set the prices for real estate properties.

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Why is it important for developers to understand lot size calculations?

To determine the number of lots they can develop and potential ROI.

To decide the color of houses in the neighborhood.

To set the tax rates for the properties.

To choose the type of vegetation for landscaping.

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What percentage of the land is considered unusable in the given example?

30%

20%

40%

50%

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

How many square feet are there in an acre?

50,000

60,000

43,560

32,000

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the total usable square footage after accounting for unusable land?

6,000,000 square feet

4,878,720 square feet

3,000,000 square feet

5,000,000 square feet

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Why must developers round down the number of lots they can develop?

To comply with federal regulations.

To ensure each lot meets the minimum size requirement.

To save on development costs.

To increase the value of each lot.

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