Real Estate Term of the Day: Appreciation APPRECIATION – an increase in the value of property. Causes for appreciation for real estate may included inflation, demand pressures for land and buildings, physical addition, modernization, removal of a negative factor from within or outside the property, time, and sweat equity (Barron’s Dictionary of Real Estate Terms) … More Real Estate Term of the Day: Appreciation
Real Estate Term of the Day: Appraisal APPRAISAL – a professional opinion or estimate of the value of the property. Also, the act or process of estimating value (Barron’s Dictionary of Real Estate Terms) In the State of Colorado, an appraisal is specifically done by a licensed appraiser by the state. This is not to … More Real Estate Term of the Day: Appraisal
Real Estate Term of the Day: Amendment AMENDMENT – a change, correction, or extension of an agreement that does not modify the basic thrust of the agreement (Barron’s Dictionary of Real Estate Terms) The two most typical items that we will use an amendment document is to change contract dates (purchase contract) or price (listing … More Real Estate Term of the Day: Amendment
Real Estate Term of the Day: Agent AGENT – a licensed real estate broker who is given authority to transact business for another with authority (Barron’s Dictionary of Real Estate Terms) See also: AGENCY & AGENCY DISCLOSURE In Colorado, to become a licensed real estate agent/broker a person must complete 168 hours of course work and … More Real Estate Term of the Day: Agent
LESLIE MONACO REAL ESTATE 