Ch 28: Principles & Theories in Real Estate

About This Chapter

Check out this series of engaging lessons and quizzes to study the basic principles and theories in real estate. Access the chapter whenever you need to boost your real estate knowledge, get ahead in class or prepare for an upcoming exam.

Principles & Theories in Real Estate - Chapter Summary

Use this self-paced real estate chapter to review the foundational principles and theories in the field. Taught by expert real estate instructors, this chapter contains short and simple lessons that define topics such as functional obsolescence, the substitution principle, assemblage and much more. Be sure to take the lesson quizzes and chapter exam to make sure you take away the most important real estate concepts. The chapter can be accessed on any device that has an Internet connection, and when you're finished with the chapter, you should be able to:

  • Define functional and economic obsolescence in real estate
  • Explain the principles of progression, substitution and anticipation in real estate
  • Understand the concept of assemblage

6 Lessons in Chapter 28: Principles & Theories in Real Estate
Test your knowledge with a 30-question chapter practice test
Functional Obsolescence in Real Estate: Definition & Example

1. Functional Obsolescence in Real Estate: Definition & Example

Functional obsolescence creates the loss in value of a property due to lack of improvements, outdated amenities, and/or poor architectural design, failing to meet today's living standards desired by consumers.

Economic Obsolescence in Real Estate: Definition & Example

2. Economic Obsolescence in Real Estate: Definition & Example

In this lesson we will look at what economic obsolescence is and go over a few examples of those factors which unavoidably cause a drop in a property's value.

The Principle of Progression in Real Estate: Definition & Example

3. The Principle of Progression in Real Estate: Definition & Example

This lesson will define the principle of progression in real estate, and compare it to the principle of regression in real estate. Examples of the principle of progression will be provided to give the reader a strong grasp of this concept.

Principle of Substitution in Real Estate

4. Principle of Substitution in Real Estate

This lesson will define the principle of substitution in real estate. Further, examples of this principle will be provided to give the reader a firm grasp of the subject.

Principle of Anticipation in Real Estate

5. Principle of Anticipation in Real Estate

In this lesson, the principle of anticipation in real estate will be defined. Upon completion, the reader should have a firm grasp of this term and how it relates to the real estate field.

Assemblage in Real Estate: Definition & Appraisal

6. Assemblage in Real Estate: Definition & Appraisal

This lesson will discuss assemblage in real estate. A definition will be provided along with a discussion of how appraisal of property would be conducted. Upon completion, the reader should have a good understanding of this concept in real estate.

Chapter Practice Exam
Test your knowledge of this chapter with a 30 question practice chapter exam.
Not Taken
Practice Final Exam
Test your knowledge of the entire course with a 50 question practice final exam.
Not Taken

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