Metropolitan Area
Definition of "Metropolitan area"
Urbanized area in and around a major city. The metropolitan area may overlap county and state boundaries and may encompass a city, its suburbs, and the orbit of its social and economic influence. For example, the New York metropolitan area is the largest overlapping portion of the states of New Jersey and Connecticut as well as numerous counties and has more than 18 million people. The New York metropolitan area is followed in size by Los Angeles, Chicago, San Francisco, and Philadelphia.
Popular Real Estate Terms
Real estate not subject to property tax such as that owned by nonprofit entities including charitable, governmental, religious institutions. ...
Aerial navigation that may interfere with a property owner, such as creating undue noise. The value of land near an airport may decline in value for this reason. Further airport congestion ...
The definition of option explains the term as something that can be chosen in spite of having multiple other alternatives. It could be an option for food, which shows a preference for one ...
Structure that has the same blue print and design as all the other homes in a given development; the opposite of custom built. ...
An Act, passed by congress in order to prevent the practice of redlining and disinvestments in central city areas. Redlining is a practice in which lenders refuse to make loans in certain ...
The appraisal approach is used to estimate the value of an asset, based on various factors to reach the closest educated guess of the asset. While an appraisal approach does consider the ...
Same as term access right: The right of a property owner to freely go to and return from an adjoining highway without interference." rollover;"Same as term: Tax-free exchange that allows ...
Map delineating property values over a designated area. Land value maps are usually developed by a governmental planning agency. ...
The closing process is the final step of a property sale. It starts when the home seller agrees to the home buyer’s offer and it ends after all Closing costs are paid ...
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