Definition of "Heterogeneous"
Therese Antonelli, Real Estate Agent
Moving The Mitten Real Estate Group
Mixed assortment of either housing styles in a residential development or mixed zoning uses in an urban development plan. For example, heterogeneous nondevelopment residential are has many different housing architectures resulting from independent contractors building different style houses at different times. Heterogeneous building style have a lower market value than a homogeneous development concept.
Comments for Heterogeneous
Define heterogeneous in real estates
May 24, 2021 01:30:55Hey Rodney! Thank you for reaching out to us. To respond to your question, heterogeneity in real estate refers to how in a particular area, usually the area that we are referring to at the time, units are different from each other. The opposite of this would be rows of houses that all look almost identical. However, heterogeneity in real estate is not limited to the aspect of the property. The differences between units can be based on architectural style, yes, but also the year of construction, condition of the building, cost of purchase, and even placement on the lot. It refers to the property's uniqueness and this makes it more difficult to assess its market value.
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