Real Estate Term of the Day: Material Fact

Real Estate Term of the Day: Material Fact MATERIAL FACT – a fact that is germane (relevant) to a particular situation; one that participants in the situation such as a trial, may reasonably expected to consider (Barron’s Dictionary of Real Estate Terms)  In the Colorado Real Estate Commission approved Exclusive Right-to-Buy Listing Contract and the Exclusive … More Real Estate Term of the Day: Material Fact

Real Estate Term of the Day: Mass Appraising

Real Estate Term of the Day: Mass Appraising MASS APPRAISING – typically used by tax assessors, an effort to determine salient characteristics of properties in a given submarket, to allow an approximation of value for each. Sophisticated statistical techniques are used frequently in mass appraising (Barron’s Dictionary of Real Estate Terms)  Below is a great explanation … More Real Estate Term of the Day: Mass Appraising

Real Estate Term of the Day: Market Price & Market Value

Real Estate Term of the Day: Market Price & Market Value MARKET PRICE – the actual price paid in a market transaction (Barron’s Dictionary of Real Estate Terms)  MARKET VALUE – the theoretical highest price a buyer, willing but not compelled to buy, would pay, and the lowest price a seller, willing but not compelled to … More Real Estate Term of the Day: Market Price & Market Value