Measure of central tendency that is a measure of the center of the data; also called an average. Mean and standard deviation are the two most widely used statistical measures that summarize the characteristics of the data. Suppose a real estate agency sells 630 houses during a 30-day period. Then the mean (average) daily sales is obtained by dividing the total number of homes sold by the number of days as follows :
Popular Real Estate Terms
Waterproofing the joint of a roof. ...
Land expansion resembling a star. The starts center is the city, and major thoroughfares going away from the city are depicted. ...
Enclosed building that stores agricultural products (hay, livestock or farm equipment). ...
method of land description that identifies a parcel by specifying its shape and boundaries. ...
Possession and use of a property estate by virtue of a lease. There are four types of leasehold estates: estate for years, periodic tenancy, tenancy at will, and tenant at sufferance. ...
The land-to-building ratio is a means to calculate in percentage how much a structure occupies the total land parcel on which it is located. It is the total building area as a percentage of ...
Tax-free status given to certain nonprofit organizations and governmental entities. Churches, charities, and government buildings do not pay property tax because of their tax-free status. ...
A financial obligation comes in several ways. In general terms, the meaning of liability refers to the amount of money an individual or company owes to a lender. We define the party holding ...
Buying real property subject to risk. For the high risk undertaken, the expected return is higher. The investor may lose all of part of the initial investment. ...
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