Cubic Foot Factor Method
Along with the square foot factor method, this is the most widely used method for estimating comparable building costs. The cubic foot factor method requires the computation of the cubic contents of a building by multiplying the building area from the outside of the exterior walls times the height of the building. This is used by appraisers to estimate the reproduction costs of a building, For example, if the average cubic foot cost of a certain building type is $20, and the total cubic contents of the building are 5000 cubic feet, then the estimated reproduction cost of the building is $20*5000= $100,000.
Popular Real Estate Terms
The most common definition of economies of scale refers to the decrease in production costs of a single item due to a business enterprise’s expansion. In short, mass production can ...
Also called a rollover mortgage. Provides a borrower with a fixed-rate mortgage that expires at a preestablished time, such as in four years. This permits the lender and borrower to ...
A business in which one or more person, with unlimited liability, called general partners, manage the partnership. There are also limited partners who contribute capital, but do not manage ...
One who agrees to pay the debts of another in the event that the debtor does not pay. The creditor can demand payment from the surety as soon as the debt becomes due. Although a surety ...
An agreement occurring from actions of those impacted, but not communicated in writing or orally. For example, it is presumed that a real estate agent will perform his or her obligations ...
Economic policies designed to reduce the fluctuation in the business cycle. An example is Federal reserve monetary policies. An attempt by an underwriter to prevent a market price of a ...
Individual making the payments in a mortgage or pledging a mortgage or property. ...
An adversary hearing allows both parties to an issue to present their views. A public procedure performed by an administrative or legislative body to investigate certain matters and ...
Process of conferring and consulting with clients concerning real estate investments and developmental projects. See also American Society of Real Estate Counselors (ASREC). ...
Have a question or comment?
We're here to help.