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
Nationwide group of independent real estate brokers who cooperate together and share information regarding clients who are seeking to relocate from one area of the country to another. The ...
The initial cost of a home plus any expense for final settlement that are not tax deductible plus capital improvements. ...
A written, legally enforceable document used to transfer title to real estate, See also quit claim deed; warranty deed. ...
Capacity in real life has numerous meanings. So, what is the definition of capacity? The “capacity definition’ applies to the highest amount a distinct object or entity can ...
When you hear someone in real estate saying there will be a boring test, they don't mean a dull exam is coming up. What is a soil boring test? Let's find out the meaning of a boring test! ...
Agreement between a lending institution and borrower where the borrower agrees to extend or spread the collateral of a loan to additional properties beyond the original mortgaged property. ...
Also called trust deed. A document that conveys title to a neutral third party during the period in which the mortgage loan is outstanding as collateral for a debt. ...
Evaluation of housing requirements based on family size, ages, occupations, marital status, and other population characteristics. ...
Mortgage placed on a property after a previous mortgage. It can be a second, third, etc. mortgage. A junior mortgage is subordinate to the terms of a previous mortgage. Junior mortgages ...
Have a question or comment?
We're here to help.