Principle Of Supply And Demand
Definition of "Principle of supply and demand"
Economic principle determining the market prices of goods, services, and property. The principle states there is a pricing relationship between supply and demand for real property. Economic forces interact affecting the overall pricing relationship. If demand for a given property increases and the supply remains constant, then the price will increase. However, an increase in price will then spur increased supply which will tend to depress prices.
Popular Real Estate Terms
Same as term government rectangular survey: Way in which the U.S. government uses to subdivide public land. Land is designated as either a base line (East-West) or principal meridian line ...
Street terminating at one end with only one outlet. A dead end street is not a through street. See also cul de sac. ...
Interior building trim surrounding windows, doors, and baseboards. Interior trim is both decorative and functional. It comes in several different styles and serves to finish the adjoining ...
Lien prior to another lien taking precedence over it. A senior lien may not necessarily be a first lien. ...
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Dividing a lot into two or more parcels. Normally a variance would have to be obtained to permit a lot split. The lot cannot be split unless they meet minimum area zoning requirements ...
Early American architecture modeled after the English Georgian architecture having two or three stories with a rectangular design and ample ornamentation often including a widow's walk. ...
Request of a local government's planning body to alter the zoning requirements based on a justifiable reason. ...
Real estate, home and life insurance use numerous ambiguous terms you should know because you can significantly benefit from them. Let’s discover what the word boot usually applies to ...
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