Cost Approach To Value
Valuing real property based on the expected cost to buy property of identical value. The replacement cost to build a structure should be based on current prices. The appraisal should consider any deterioration (depreciation) to the property in question.
Popular Real Estate Terms
Permanent structure protruding from the side of a building. In addition to providing shelter, a marquee is often used as an advertising format. For example, a movie theater marquee lists ...
Structure not directly belonging to a property but considered a part of it through the use of an easement of common consent. ...
The Ellwood method based on a multiplier of mortgage-equity to determine the value of income-producing property. ...
An obligation of the owner of property that is recorded with his permission such as a mortgage. Encumbrance on property without being objected to by the owner. ...
unfinished access space below the first floor having less height than a full story. An individual must crawl through the crawl hole to gain access. Any interior passage of limited ...
A narrow passageway between buildings providing secondary rear access. ...
Situation where a neighbor hood is gradually occupied by progressively lower income people. ...
A closed-end mortgage is a mortgage in which the collateralized property cannot be used as security for another loan. See also open-end mortgage for a better understanding of the ...
Blockbusting is a despicable and illegal racist business practice. Here’s how Blockbusting happens: a real estate agent, or someone posing as one, comes to a homeowner and instills ...
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