Title: Analyze the economic relationships between the community and the real estate market.
Course: Real Estate (12154) > Section: Describing the Economy and Impact of Real Estate

Analysis should include

- economic factors associated with the community
  - short sales
  - foreclosures

- the impact of the real estate market on schools and the impact of schools on the real estate market
- employment/industries (growth/development)
- long-term effects.

DPOR correlation: 18VAC135-20-400. 1 (Economy and social impact of real estate); 18VAC135-20-400. 2 (Real estate market and analysis)

Process/Skill Questions:

- How does the growth or decline of industry affect the real estate market?
- How do short sales/foreclosures affect home/property values?
- How can demographics influence the real estate market?
- What is the effect of public and private transportation on real estate property values?
- What effect does the perceived value of schools have on the purchase decision?
- How can a school division’s reputation affect real estate prices?