Scarcity

Definition of "Scarcity"

Inadequate supply of real estate in a particular area will result in a favorable demand supply relationship resulting in price increases for the property. This benefits the current owners of the property. An example was the explosive growth in Orlando, Florida, causing property value to skyrocket in selected areas.

Search Real Estate Glossary

Related Real Estate Glossary terms

First Refusal

Same as term right of first refusal: Right of an individual to be offered something before it is off ...

Parol

Statement made verbally. It is better legally to have a written statement because verbal ones withou ...

Probability

Chance that an event will occur. The foundation of insurance is probability and statistics. By pooli ...

Endorsement

A statement attached to an insurance policy changing the terms of the policy. A signature on a draf ...

Rest Cure

Care in a sanitarium, nursing home, or other facility designed to provide custodial care on behalf o ...

Comparable Sales

Market analysis method where sales of similar properties in proximity neighborhoods are compared. Th ...

Related Real Estate FAQ

What Is A Loan Origination Fee?

A loan origination fee is a fee charged by the lender-usually 1 percent of the loan amount. ...

What Do I Need To Know About Whole Life Insurance?

Whole life insurance insurance provides the coverage amount to your beneficiary in the of your death ...

What Is A Home Warranty?

A home warranty is a guarantee for certain features of a new home-for instance, the materials and wo ...

What Is A Front-end Ratio?

A front-end ratio is a ratio of the borrowers monthly housing expenses-including principal, interest ...

What Is An Escrow Officer?

An escrow officer - also known as a loan officer - is the person that walks you through the closing ...

What Will My ARM Loan Payment Be ?

RealEstateAgent.com calculator will compute your initial payments and estimate your future payments. ...

Read why Real Estate Agent rates 5 Stars in 10 Agent Reviews

Agents join here

Add our widget on your Website

Real Estate Advice

6 Reasons you are not selling properties 10 Tips for Homebuyers How Does The Home Loan Underwriting Process Work? Real Estate Open House - The Dos and Don Tax Breaks for the First Time Home Buyer

FAQ

What is a spec house? What is a second mortgage? What is a closing? What is a loan origination fee? What is flood insurance?