2. Explain the following statements (16 points 2 points each) 1. Every real estate development project involves both the public and the private sectors. 2. Time plays crucial role in the real estate development process 3. Supply and demand have direct relation with property value 4. Real estate development involves a lot of risks, however, good developers know how to mitigate their risks. (Explain the nature and types of risks and the tools to mitigate them) The effective real estate market research is often a matter of excluding the irrelevant. When one buys a real estate, what one is buying is a set of assumptions about the future. 5. 6. 7. Creating the analyst's story is the most creative and challenging aspect of real estate market analysis. There will always be a different market analysis for the same assignment. 8. 2. Explain the following statements (16 points 2 points each) 1. Every real estate development project involves both the public and the private sectors. 2. Time plays crucial role in the real estate development process 3. Supply and demand have direct relation with property value 4. Real estate development involves a lot of risks, however, good developers know how to mitigate their risks. (Explain the nature and types of risks and the tools to mitigate them) The effective real estate market research is often a matter of excluding the irrelevant. When one buys a real estate, what one is buying is a set of assumptions about the future. 5. 6. 7. Creating the analyst's story is the most creative and challenging aspect of real estate market analysis. There will always be a different market analysis for the same assignment. 8