1. According to Floyd and Allen, the five principal types of residential development are single-family detached houses, single-family attached houses, multi-family residences, manufactured homes, and second homes.
Single-family detached house:
This type of residential real estate embodies the American dream. A single-family detached house provides privacy, a yard, and the liberty to decorate and improve as you wish. In addition, a single-family detached home is separated from any adjoining with at least some open land in between the houses surrounding the dwelling (Floyd and Allen, 2011).
Single-family attached house:
This type of dwelling is a house connected to another housing unit, most commonly with a shared wall, and generally provides living space for a single-family. A single-family attached house can be town houses, plexes, and patio or zero-lot-line (Floyd and Allen, 2011).
Multi-family residences:
This type of dwelling is a residential real estate in which more than one family resides. Multi-family residences can be separated into multiple real estates. For example, multi-family residences can be semi-detached homes, rowhouses, or even duplexes in which a different family lives on each floor.
Manufactured Homes:
Also known as mobile homes, this type of dwelling is manufactured in a factory and then moved to a particular site for residential purposes (Floyd and Allen, 2011). Manufactured homes are built under a strict federal building code administered by the U.S. Department of Housing and Urban Development (HUD). These types of residences are primarily known for their affordability.
Second Homes:
These types of homes are essentially vacation homes and not primary residences for the owner. Second homes are primarily used as an investment property to rent them out when you’re not utilizing them.
Explain the steps involved in a feasibility and market analysis for a proposed shopping center
A feasibility analysis helps a potential commercial property owner determine the viability of a property through a study of technical viability, profitability, or estimated overall cost of the real estate. The steps involved in feasibility and market analysis for a proposed shopping center are as follows.
Delineation of market area is the suitability of the shopping center in a particular location.
Analysis of recent trends tells us data-driven facts such as what has been in demand during the past few years and what economic factors lie behind current trends that could affect the shopping center.
Determination of future demand helps the potential shopping center owner understand the estimations of future demand. It also analyzes economic conditions that could affect future demand.
Analysis of future supply helps the shopping center developer by providing data regarding other shopping centers that might be opened near the desired location. If there is more supply of shopping centers than the demand, it leads to a saturated market.
Works Cited
Floyd, C., & Allen, M. (2011). Real estate principles, 10th edition. Chicago, IL: Dearborn Financial Publishing.
2. Week five we are to explain the different types of residential developments and explain the steps in a feasible and maket analysis for a proposed shopping center.
Single Family home: This is the white picket fence family home. It is built on its own plot of land and not associated to anyone in particular and is big enough to be occupied by a one family househould. Its also can be referred to as a one dwelling unit. This is the most common home you realtively available to purchase or rent when searching.
Single family attached homes: Similiar to the single family home, however the title is just what it seems, an attached home either by a wall or some type of extension off of another home or shared wall space. It has a common wall and usually that is used as the property line.
Multi-family home: These are best for an intersted int the real estate realm and are comfortable with the pressure of being in control. These are usually known as the land lord in some cases, normally in the bigger cities you are able to purchase the unit in the building although its still associated to the surrounding units. Many families can live in the building at once.
Manufactored homes: These have grown over time as youre now able to modify the home before being built. These manufactored homes are commonly known as mobile or trailer homes. These prefabricated homes are built in a factory and put together at the desired location.
Second homes: The explanation is much told in the title, its exactly how its stated..a second home. This is not the primary residence of the owner and often used as a vacation home or investment property. If you are able to occupy the home for 14 days out of the year or 10% of the days that you rent it out, then it is considered a second home.
The second part of this weeks discussion is to explain steps in a feasble and market analysis for a proposed shopping center. The population needs to make sense in order to move forward with the shopping center, although it could start generating a more popular area for residential areas to be built around the shopping center the population needs to be there in order to start planning the process. How big the shopping center is going to be and how much growth in revenue will it generate. Is there any similiar shopping areas within the area and is the competiton fierce enough to take away from the shopping center concept. Next estimation of the sales the shopping center would generate. Would it be enough to cover the expenses and debt the time it took to build and purchase the area. These are the necessarly market analysis needed in order to propose a shopping center.
3. When considering where to live, it’s important to know your options so you may determine what would work best for you.
There are 5 different types of residential developments for you to consider:
1. Single Family Detached Home: Also known as a single family home; this option is a stand-alone home with no shared walls. This is a great option that allows you to have freedom and privacy.
2. Single Family Attached Home: Another great option for homeownership; a single family attached home is a condo or townhome. Usually a more budget friendly option in most areas. With this option your walls and/or property will be adjoined to your neighbors.
3. Multifamily Residence: Another great budget friendly option (in most areas), but If you want the to be in the heart of a big city, this may be your only option. This option would include, high-rises and apartment complexes. A multifamily residence is described as a dwelling that consists of multiple living quarters.
4. Second Home: Self explanatory, this type of home is is only available to people who already own a home. There are many reasons someone may purchase a second home; some people may purchase one as a vacation home, or may be even a place to stay where they frequent for business purposes. You may even purchase a second home to profit off of and rent it out.
5. Manufactured Homes: Probably the most budget friendly of the options; this type of home is factory built then transported to location. An example of a manufactured home is a mobile home.
When doing a feasibility and market analysis for a proposed shopping center there are several steps to take:
Preliminary Analysis: Just as the feasibility study determines whether a proposed project is worth the effort, the preliminary analysis determines whether the feasibility study itself is justified. The fact is that conducting a feasibility study is an intensive, time-consuming process, and the preliminary analysis will look to uncover any roadblocks that would render the feasibility study useless.
Define the Scope: Before you can determine the potential impact of a project, you have to get clear on the project’s scope. This includes defining the project’s goals, tasks, phases, costs, deliverables, and deadlines. The project scope also identifies internal stakeholders as well as external clients and customers.
Market Research: gives insight into the current competitive landscape and helps identify factors like geographic influence on the market, the market’s overall value, and its demographics.
Financial Assessment: A breakdown of costs and risks involved. Costs may include human resources, equipment, material, software, hardware, facilities, and third-party services.
Roadblocks and Alternative Solutions: This lays out what potential problems are that could arise and lead to project delays or even failure, and what are the solutions going to be for those problems.
Reassessment: This step is to get a fresh set of eyes on the assessment. You will have someone else involved look all of this over from top to bottom to ensure there or no errors, or things that you may have looked over.
Go or no-go decision: The final step in to determine if the odds are in your favor; are you going to move forward or no?
McAbee, J. (2020, Oct. 26). How To Do a Feasibility Study. Wrike. https://www.wrike.com/blog/how-to-do-a-feasibility-study/.
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