Unit 7 Real Estate Market Value

According to The Economist, a famous English-language weekly news and international affairs publication owned by The Economist Newspaper Ltd. and edited in London, Great Britain, developed economies assets at the end of the year 2002 were as follows (we understand by developed economies countries whose economies are dominated by the tertiary sector of industry the provision of services to businesses as well as final consumers and by the quaternary sector of industry the sharing of information): - Residential property: $48 trillion; - Commercial property (business property e.g. office buildings, industrial property, medical centres, hotels, malls, retail stores): $14 trillion; - Equities (stock): $20 trillion; - Government bonds (bonds issued by a national government denominated in the countrys own currency): $20 trillion; - Corporate bonds (longer-term debt instruments, generally with a maturity date falling at least a year after their issue date): $13 trillion; - Total: $115 trillion. That makes real estate assets 54% and financial assets 46% of total stocks, bonds, and real estate assets. Assets not counted here are bank deposits (a current account at a banking institution that allows money to be deposited and withdrawn by the account holder, with the transactions and resulting balance being recorded on the banks books), insurance (form of risk management primarily used to hedge against the risk of a contingent loss) reserve assets, and human assets or human capital (the stock of productive skills and technical knowledge embodied in labour). In all the calculus exposed above, it is not quite clear if all debt (that which is owed; usually referencing assets owed, but the term can cover other obligations) and equity (the remaining interest in assets after all liabilities are paid) investments are counted in the categories equities and bonds. (After Wikipedia, the Free Encyclopedia)
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 Vocabulary
according to = dup, n conformitate cu account holder = deintor de cont bancar allow (v.) = a permite assets = activ, datorii active, bunuri patrimoniale balance = balan (financiar) bank books = registre bancare bank deposit = depozit n banc contingent loss = pierdere accidental corporate bond = bon / obligaiune / titlu de rent emis de o corporaie count = cont currency = moneda unei ri, valut current account = cont curent debt instrument = instrument de debit deposit (v.) = a depune, a face o depunere la banc developed economies = ri dezvoltate embody (v.) = a ntruchipa equity = aciuni cu dobnd variabil (Marea Britanie) government bond = bon / obligaiune / titlu de rent emis de guvernul unei ri hedge against (v.) = a se proteja mpotriva human asset = capital uman insurance = asigurare issue date = data emiterii issued = emis() maturity date = termen scadent productive skills = calificare profesional provision = furnizare record (v.) = a nregistra reserve = rezerv retail store = magazin cu vnzare cu amnuntul sharing = mprtire stock = aciuni technical knowledge = cunotine tehnice trillion = trillion; billion (S.U.A.) weekly publication = publicaie sptmnal withdraw (v.) a retrage (o sum)
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 Exercises
1. Answer the questions. What is The Economist? What do you understand by developed economies? What does the tertiary sector of industry involve? What does the quaternary sector of industry involve? What do you understand by commercial property? Where could you range an office building? What do you understand by stock? What are government bonds? What do you understand by corporate bonds? How much do real estate assets make of total stocks, bonds, and real estate assets? What are bank deposits? What is an insurance? What do you understand by human assets? What do you understand by debt? What do you understand by equity?

2. Group the following words related to land that a person owns or the land on which a house is built, as in the model. boundary marker building site deed estate land landlord landowner owner piece of property plot property property line real estate agent section site title trespass trespasser
Words referring to

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the land that a person owns

going onto someones property without permission

the boundary of a piece of property

the official document that shows who owns the land

a person who sells land

owner

3. Match the following. 1. The primary sector of industry generally involves changing natural resources into primary products: 2. The secondary sector of industry includes those economic sectors that create a finished, usable product: 3. The tertiary sector of industry involves the provision of services to businesses as well as final consumers: 4. The quaternary sector of industry concerns the intellectual services: a. agriculture, agribusiness, fishing, forestry and all mining and quarrying industries. b. information generation, information sharing, consultation, education and research and development. c. manufacturing and construction. d. the transport, distribution and sale of goods from producer to a consumer (wholesaling, retailing), or the provision of a service (pest control, entertainment).

4. Put the following into English. Investiia n calitate, o formul de succes, acum ca i dintotdeauna, asta v propune Villaggio Mediterraneo, un ansamblu rezidenial ce va prinde via lng Timioara, zona Monia Nou, la doar 10 minute de mers cu maina din centrul urbei, n direcia Lugoj-Buzia.
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the person who owns the land

Acest proiect, prezentat i la nivel internaional, la Cannes, n cadrul unuia dintre cele mai mari i mai importante trguri de profil din Europa, se va ntinde pe o suprafa de 3,3 ha, iar o suprafa de 5.000 m2 de zon verde, perfect ngrijit, va despri ansamblul de oseaua principal, izolndu-l, astfel, de factorii de disconfort ai marelui trafic. Mediterraneo este un produs conceput i dezvoltat n ntregime de Monlandys, societate care face parte din Grupul Euroholding, nume cu rezonan unanim recunoscut n zona de top a firmelor specializate n construcii civile din Romnia. Cele 56 soluii de locuit sunt dezvoltate pe 3 niveluri, n concepii arhitectonice gndite astfel nct sa rspund celor mai diversificate exigene, cu dou tipuri diferite de amenajare, ambele cu suprafee ample. 5. Fill in the blanks with the Present Perfect Continuous and since/for. I (call) the doctor the last five minutes. It (rain) ages. Mr. Gray (work) in this office he graduated from college. My aunt and uncle (stay) with us September. My brothers (read) they came back from school. The cat (sleep) two hours. The Dawsons (save) money for a new car they got married. This man (read) the paper he got on the bus. We (study) for the final exams two weeks. You (plan) this party a long time, havent you?

6. Put the verbs in the Simple Past in the negative form. Then change the sentences into the interrogative. Last Saturday my friend and I left town early in the morning. We drove to our favourite picnic place by a lake. The road wound gently around the hills. We stopped at a motel restaurant by the road. We ate fresh salmon and fries. We reached the lake, we parked our car and laid down our picnic things. Later that day we ate some baked rolls, then fed the birds crumbs of our meal. The weather was great. The sun shone all morning and a mild wind kept blowing. We got a lovely tan. About noon the wind grew in intensity. It bent the branches of the trees and blew away our plastic cups and plates. Suddenly the

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day lost all its charms. The birds flew down in circles around us. That meant rain! 7. Group the words or particles in the box according to the required prefix. able advantage agree aircraft appoint author biotic classify climax colonise compose compress connection crease criminate depressant dote face founder operate ordinate pathy pilot star
anticodedis-

antidote 8. Choose the right conjunction from the box to fill in the blanks. Some need to be used more than once. although and if or that where Houses and apartments are sold in two ways in Australia: by private treaty, .... you negotiate with an agent ... owner to buy a property ... is for sale .... , more commonly in Sydney, by public auction. It is reasonably common to buy a block of land ... build a house, ... blocks are becoming increasingly scarce in the suburbs around Sydney. ... you need to arrange a home loan there are numerous sites ... help you work out how much you can borrow, ... summarise different lenders' fees and services, ... in some cases allow you to apply for a loan online. Loans are usually paid over 25 to 30 years, most mortgages make provisions for early repayment. Payments are usually made monthly or fortnightly. Approval for home loans depends on how much money you have for the deposit lenders ask you to have between 5 20 per cent of the value of the property, depending on the type of loan. Lenders also need to see proof of your income your partner's income. There are two basic types of loan: owner occupier loans you buy a property live in it, paying off your mortgage using your home as security for the loan; investment loans. There are various types of investment loan you can choose fixed floating rate loans have a combination of fixed floating rate loans.
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 Lets Laugh!
An out-of-towner drove his car into a ditch in a desolated area. Luckily, a local farmer came to help with his big strong horse named Buddy. He hitched Buddy up to the car and yelled, Pull, Nellie, pull. Buddy didnt move. Then the farmer hollered, Pull, Buster, pull. Buddy didnt respond. Once more the farmer commanded, Pull, Jennie, pull. Nothing. Then the farmer nonchalantly said, Pull, Buddy, pull. And the horse easily dragged the car out of the ditch. The motorist was most appreciative and very curious. He asked the farmer why he called his horse by the wrong name three times. The farmer said, Oh, Buddy is blind, and if he thought he was the only one pulling, he wouldnt even try!

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