Episode 107 - Real Estate Exam Questions: Public and Private Land Use Controls

Going through state exam questions to help real estate students pass their state exam.

Happy Thanksgiving! Send me your favorite recipes.

State exam vs. State portion of the State Exam

List of recent grads: Lynn, Ryan, Brittany, Gilbert, Daniel, Christelle, Ralitsa, Mara, Kayla, Martin, Kim, Sally, Paulina, Rachel, Tyler, Johnnie, Julie, Jennifer, Max, Sophia, Crystal, Alexis, Tony, Baylee, Jordan, Jose, Camila, Edna, Hannah, Kim, Monica, Brandon, Alexander, Chelsie, Madeline, Michael, Alvin, Carl, Kari, Jean, Stacy, Diana, Karen, Robert, Sarah, Justin, Julie, Dipali, Katie, Garret, and Tayler.

Listener message from Christie in California

Public vs. Private

P.E.T.E. – Police Power, Eminent Domain, Taxation, and Escheat

Condemnation; Taking; Regulatory taking; Inverse Condemnation

Zoning classifications; density zoning; setbacks; non-conforming use; grandfathered use

Variance vs. Conditional Use Permit

Building Code: permit and certificate of occupancy

Private land use controls: HOA and Covenants, Conditions, and Restrictions (CCRs)

Deed restrictions; contractual agreement

Enforcement through court system.

Zoning vs. Building Code vs. Private Restrictions

Exam Questions

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Episode 106 - Real Estate Exam Questions: Real Estate Taxes and Liens

Going through state exam questions to help real estate students pass their state exam.

I’m not telling it will be easy. I’m telling you it will be worth it!

List of recent grads: Max, Sophia, Crystal, Alexis, Lori, Alexander, Anthony, Angel, Baylee, Ceasar, Jordan, Jose, Ruperto, Camila, Edna, Vanessa, Emmanuel, Hannah, Kim, Monica, Janie, Raven, Chelsie, Madison, Michael, Angelica, Alvin, Kristina, Samantha, Carl, Kenndey, Evelyn, Connie, Amy, Justin, David, Hilda, Dora, Lindsey, Valerie, Sabrina, Devin, Gerald, Jessica, Carmen, Grace, Haven, Martha, Theresa, Steve, Brianna, Jessie, Aubrey, Katelyn, April, Shelby, Joe, Carly, Diana, Shannon, Tiffany, Sarai, Casey, Jennifer, Amaryllis, Ally, Kamera, Caitlin, Andrew, Liliana and Stephanie.

Listener messages from Liliana and Ally.

Lien defined

VICE: Voluntary, Involuntary, Equitable, or Statutory

General and Specific Liens

Effect and Priority of liens

Real estate taxes and calculations; assessed value, equalization factor

Special assessments

Liens types

Lis pendens

Exam Questions

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Go to www.indianarealestateinstitute.com for Indiana real estate classes.

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Episode 105 - Real Estate Exam Questions: Appraisal/Valuation Principles and Math

Going through state exam questions to help real estate students pass their state exam.

We are not ONLY in Indiana. We are a nationwide service.

List of recent grads: Carmen, Mosi, Eliana, Addyson, Grace, Haven, Martha, Theresa, Brianna, Jessie, Aubrey, Katelyn, April, Shelby, Joe, Brandon, Aramis, Jada, Jose, Mason, Kylei, Phoebe, Jackie, Amelia, Maite, Selena, Janessa, Sh’Nyah, Mariana, Esmeralda, Lesley, Sav, Tommy, Rebecca, Ihsan, Maddy, John, Ylanerie, Madison, Gretchen, Tiffany, Nicole, Honour, Randi, Kimberly, Amy, Santiago, Dawn, Jessica, Shannon, Rina, Katherine, Amber, Kayleigh, Gabriel, Brian, Ian, Wendy, Lisette, Lisa, Brooke, Jean, Starlynn, Simone, Andrew, Lori, Samantha, and Emma.

Listener messages from Samantha and Emma.

Go to www.brianclee.com for Real Estate Between the Lines podcast

Value – DUST or STUD

Anticipation

Highest and Best Use

Increasing and Diminishing Returns

Regression vs. Progression

Substitution

Sales comparison approach

Cost approach

Income approach

Exam Questions

Go to www.ahareep.com and sign up for the program for only $35, use discount code: legend15 to save 15% off.

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Episode 104 – Podcast Update

Going through state exam questions to help real estate students pass their state exam.

Quick update on the podcast and what I have been up to.

Bookmark www.aharealestateacademy.com for new classes in many other states.

Go to www.ahareep.com and sign up for the program for only $35, use discount code: legendary15 to save 15% off.

Go to www.indianarealestateinstitute.com for Indiana real estate classes.

A-Ha LINKS

Email

info@ahareep.com

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Episode 103 - Real Estate Exam Questions: Real Estate Finance, Lending & Math, Part 2

Going through state exam questions to help real estate students pass their state exam.

01:35 – Thank you for helping me reach 500,000 downloads!!

02:40 – Find you support system to get you through the class, the exam, and your career.

05:55 – List of recent grads: Andrea, Dylan, Matt, Karina, Iris, Ricardo, Yadira, Miracle, Jennifer, Brittany, Antonio, Dominic, Ashley, Kristian, Halie, Rikkel, May, Blanca, Mayra, Chellsea, Marilyn, Leslie, Talia, Max, Danielle, Madelene, Sherry, Brooklyn, Gracelyn, Dar, Lillian, Alexander, Carmen, Tosin, Davonnia, Micah, Maria, Marcus, Lawrence, Bernadine, Fabiola, Ana, Jose, Natasha, Rachel, Alicia, Abby, John, Jason, Brandon, Oliver, Karla, Erin, Ameca, and Scott.

07:40 – Listener Messages from Matt and Karina.

12:05 – Episode Focus: Finance and lending in real estate, part two.

12:45 – Primary versus Secondary mortgage market.

15:40 – Loan to Value; LTV; loan and downpayment.

23:40 – Private Mortgage Insurance (PMI) and Mortgage Insurance Premium (MIP); Homeowner’s Protection Act of 1998; Conventional loan; loan amount higher than 80% or downpayment lower than 20%.

27:25 – FHA and VA loans; insured versus guaranteed loans.

30:10 – Loan types: straight loan, adjustable-rate mortgage (ARM; index, margin, and rate caps), balloon loan, reverse mortgage, package loan, blanket loan, wraparound loan, home equity loan (HELOC), bridge loan, and buydown mortgage.

53:20 – Truth In Lending Act (TILA) and Regulation Z; applies only to residential loans; annual percentage rate (APR), three day right of recission; advertising; trigger terms.

1:04:10 – Reach out to me if you are seeing questions about credit scoring and/or loan underwriting.

1:05:15 - Exam questions

1:26:45 – July’s episode is all about appraisal and valuation; income approach, and other appraisal terms you will need to know to pass the real estate exam.

Go to www.ahareep.com and sign up for the program for only $35, use discount code: legendary15 to save 15% off.

Go to www.indianarealestateinstitute.com for Indiana real estate classes.

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Episode 102 - Real Estate Exam Questions: Real Estate Finance, Lending & Math, Part 1

Going through state exam questions to help real estate students pass their state exam.

02:05 – B’s Message: Making mistakes is better than faking perfection.

06:30 – List of recent grads: Andrea, Joyce, Lynn, Adrienne, Abigail, Jessica, Angela, Sara, Marquita, Kimmy, Bruno, Eric, Jennifer, Rina, Daisy, Sabrina, Shauna, Marie, Anne, Renae, Staci, Samantha, Joey, Steven, Barbara, Tina, Elizabeth, Karen, Ashley, Lewis, Veronica, Adam, Delaney, Dianna, Claudia, Bryant, Perry, Melissa, Sheila, Tina, Frank, Lane, Daniel, and Jade.

08:30 – Listener Message from Andrea

12:20 – Episode Focus: Finance and lending in real estate, part one. Part two will come out in June.

14:00 – PITI payment; Principal, Interest, Taxes, and Insurance.

18:15 – DTI; Debt to Income ratio.

21:35 – Promissory note; IOU; contract between the borrower and the lender.

24:10 – Mortgage – verb and noun (lien); hypothecation; mortgagor and mortgagee; lien theory versus title (trust) theory.

31:55 – Interest payments; Formula: Loan amount x Periodic Interest Rate = Periodic Interest Payment; interest rate is almost always expressed as an annual rate.

37:40 – Discount point; increases yield to lender; reduces interest rate paid by borrower; value of a discount point; Formula: Loan Amount x Discount Point (as a percent) = Cost of Discount Point.

46:55 – Mortgage clauses: acceleration clause, defeasance clause (satisfaction of mortgage), and alienation clause.

52:15 – Foreclosure: judicial versus non-judicial; deed in lieu of foreclosure; short sale; redemption (equitable right versus statutory right); deficiency judgement.

1:00:25 – Exam questions

1:34:20 – June episode is part 2; LTV (loan to value), loan types, and governmental regulations (RESPA and TILA).

Go to www.ahareep.com and sign up for the program for only $35, use discount code: legendary15 to save 15% off.

Go to www.indianarealestateinstitute.com for Indiana real estate classes.

A-Ha LINKS

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Episode 101 - Real Estate Exam Questions: Fair Housing

Going through state exam questions to help real estate students pass their state exam.

03:00 – Message of kindness and respect. Open your mind!

09:50 – List of recent grads: Brandon, Elmer, Bronda, Cindy, Layton, Maxwell, Dillon, Philip, Alayna, Michael, Angela, Cullen, Avery, Barrett, Nanticia, Kyle, Raven, Whitney, Milan, Mandy, Albert, Halim, Janice, Alisia, Claudia, April, Janeva, Martina, Abbey, Ella, Isaiah, Betty, Dana, Juston, Darian, Jennifer, Conner, Richard, Zaria, Ruth, Dajon, Rhonda, Michelle, Morgan, and Kasandra.

11:05 – Message from Brandon.

12:50 – Episode Focus: Fair housing

13:30 – Know the years; Civil Rights Act of 1866; only race was the protected class.

14:35 – Fair Housing Act; Title 8 (VIII) of 1968; race, color, national origin, and religion.

16:10 – Sex/Gender added in 1974; Familial status and disability were added in 1988. Sexual orientation is not a federal protected class.

17:30 – Familial status defined.

19:35 – Disability: physical and mental

21:30 - Reasonable accommodations

23:50 – Security deposit issues.

27:10 – Service animals and how tenant selection and security deposits work.

30:20 – Exceptions to fair housing laws. Discriminatory advertising. Race is NEVER an exception to the fair housing laws.

35:40 – ADA; American with Disabilities Act; workplace, commercial, industrial, retail, and office spaces. 15 or more employees.

37:05 – Fair housing practices: Blockbusting, Steering, and Advertising.

41:35 – Lender issues and fair housing; ECOA (Equal Credit Opportunity Act); added marital status, age, and reliance upon public assistance as protected classes.

44:25 – Redlining.

45:20 – Enforcement is through the Department of Housing and Urban Development (HUD); unless complaint is based upon race, then the complaint goes directly to federal courts.

46:50 – These are the general, federal rules on fair housing. There is more to the federal, state, and local laws. Watch for the distinctions on your questions.

48:40 – Exam questions

1:12:35 – May and June episodes will be a two-part series on lending principles, practices, and math. So much content to cover, I had to split it into two shows. Come back for more to help you pass the real estate exam.

Go to www.ahareep.com and sign up for the program for only $35, use discount code: legendary15 to save 15% off.

Go to www.indianarealestateinstitute.com for Indiana real estate classes.

A-Ha LINKS

Email

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Bonus Episode – 2024 NAR Settlement Discussion

Thoughts and facts and full truthes about the NAR settlement with actual background and history.

A lot of misinformation out there.

Biased news media and social media participants are looking for clicks, likes, and shares so they get money.

This episode is about the entirety of the truth along with the good and bad of the issue.

History of commissions

Legal issues and practices

How the “news” works

Settlement provisions:

a. Eliminate and prohibit the REQUIREMENT that listing Realtor brokers or sellers must make offers of compensation to a buyer’s agent.

b. Prohibit Realtors from making an offer of compensation on the MLS or disclosing on the MLS any buyer agent compensation, listing compensation, or total compensation.

c. Require Realtor MLSs to eliminate broker compensation fields on the MLS and prohibit the use of any other field in the MLS to display compensation.

d. Eliminate and prohibit any requirements conditioning participation or membership in NAR on offering or accepting offers of compensation.

e. Agree not to create, facilitate, or support any non-MLS mechanism (Ex. Zillow, private websites, etc.) for listing brokers to make offers of compensation to buyer brokers. This rule is not violated if:

f. Unless state or federal (none to date and likely never will) law says differently, all Realtors (again, not all agents) working with a buyer must enter into a written agreement BEFORE the buyer tours any home with the following:

g. Prohibit Realtors from representing that their services are “free” or “no cost” to buyers unless they will not receive any form of financial compensation.

h. Realtors must conspicuously disclose to sellers and obtain seller approval for any commission the listing broker will provide to a buyer’s agent.

i. Realtors must conspicuously state in the contract that broker commissions are not set by any law and are fully negotiable.

j. Realtors must not filter out listings that do not offer commissions.

What happens going forward?

How will things work?

Valuation of property and cash equivalency with mixed commission policies

What else should have been included?

We will get through this like every other bump in history.

Go to www.ahareep.com and sign up for the program for only $35, use discount code: legendary15 to save 15% off.

Go to www.indianarealestateinstitute.com for Indiana real estate classes.

A-Ha LINKS

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