Situs

Definition of "Situs"

Geographic location of land based on its economic significance. Property values are directly impacted by economic factors in the particular locality. For example, a fashionable boutique or Lexus dealership might do well in a wealthy neighborhood but not in a poor one.

Search Real Estate Glossary

Related Real Estate Glossary terms

Natural Death

Death from other than accidental means. ...

Active Participation

Involvement in real estate ownership and management on a continuing basis as contrasted to passive p ...

Niche Writers

Insurance companies that seek an economic advantage, thereby increasing their returns on equity by u ...

Fee Simple Absolute

An estate limited absolutely to an owner and his or her heirs in perpetuity and without limitation, ...

Foreclosure Sale

A legal procedure to sell a mortgage property to the highest bidder in order to satisfy a mortgage c ...

Unit In Place Method

Approach to valuing property based on its replacement cost. The cost of each major element of the pr ...

Related Real Estate FAQ

What Is A Title Search?

A title search is the process of reviewing court records and other records to ensure that there are ...

What Is A Conventional Mortgage?

A conventional mortgage is a mortgage made by banks and other lending institutions that is not insur ...

What Is A Seller Takeback?

A seller takeback is a type of financing in which the seller arranges for the financing on a propert ...

What Is A Lease Purchase Mortgage?

A lease purchase mortgage is a financing option that allows potential homebuyers to lease a property ...

Do I Need Flood Insurance?

Over 90% of all presidential-declared disasters in the United States are flood related. Leveling for ...

What Is An Index?

An index is an economic indicator used to set the rate for adjustable-rate mortgages. ...

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

Agents join here

Add our widget on your Website

Real Estate Advice

What is the Best Time of Year to Buy a Home? How Does The Home Loan Underwriting Process Work? How to become a real estate agent When to buy a house How To Choose A Realtor

FAQ

How Much Can I Afford ? What is an agent? What is a Good Faith Estimate? What is a fixed-rate mortgage? What is a mortgagor?