Market Data Approach
Definition of "Market data approach"
Analysis of a real estate sales data to appraise real estate values. Sources of real estate sales data used in the market data approach include the official records of deeds and leases available in county clerks' offices and local assessors' offices. Other sources include the real estate agents involved in specific real estate transactions, principals to real estate sale, published transaction records and newspapers. The real estate market data must be analyzed to determine comparability in order to reach a valid appraisal value.
Popular Real Estate Terms
The total return from holding a real estate investment for the holding period of time. The computation follows: For a mutual fund investing in a real estate, the return is in the form ...
In appraisal jargon, property currently being appraised. ...
Also called profit and loss statement. A financial statement depicting a business entity's operating performance and reports the components of net income, including sales of real estate, ...
Temporary financing meeting a developer's financial difference between a construction loan and a permanent mortgage. ...
A delay in making a principal payment on a mortgage that a bank allows a debtor for current financial difficulties. The extension of a loan at maturity at the 'going' market interest ...
Danger, hazard, risk, or peril. For example, jeopardizing a piece of property by pledging it as collateral for a loan. ...
Approach to valuing property based on its replacement cost. The cost of each major element of the property per square foot is added together and multiplied by the total space to estimate ...
A public officer given the right to authenticate a document, accept a person's oath, administer depositions, and to conduct other activities in commercial business. An official seal is used ...
List of records kept of what is owned by an individual such as the deed to a house and the title to land. ...
Have a question or comment?
We're here to help.