Neighborhood Life Cycle
Definition of "Neighborhood life cycle"
Changes occurring in neighborhoods over time. The neighborhood life cycle includes the phases of birth, early growth, maturity, and decline. Not all neighborhoods pass through them more quickly the others. Neighborhoods decline for several reasons. The physical aging and deterioration of the building structures as well as the aging of the population contribute to the overall decline. Architectural obsolescence also makes these neighborhoods less attractive. Other changes include the intrusion of a business or industrial area into the neighborhood detracting from its overall quality.
Popular Real Estate Terms
Capital appreciation financial goals set by a company or an individual over an extended period of time. Long-term capital goals establish a method for achieving the capital goal outcome ...
Stairs or porch by the front door of the house. ...
A column designed to support a concentrated load. A pier column is made out of steel, steel reinforced concrete or wood. A structure extending out into the water supported by numerous ...
Violating a law, commitment, duty, or obligation through commission or omission. The responsibilities of an agreement or guarantee are not met. ...
Method of appraising real estate based on the market comparison of neighboring properties having similar characteristics. Seeks to answer the question: What would it cost to substitute a ...
Stature regulating the use of credit information. Allows consumers such as prospective homeowners access to their credit files. It requires a lender to explain how loan interest is ...
The act or process of decreasing in size. The total amount of decrease. ...
An administrator appointed by the government or the courts to administer the laws relating to a government agency or court. A commissioner is a part of a government or court commission. ...
Expected period that property will provide benefits. It is typically less than physical life of the property because the property continues to have physical life regardless of inefficiency ...
Have a question or comment?
We're here to help.