Real Estate Term of the Day: Architecture ARCHITECTURE – the manner in which a building is constructed, including the layout, floor plan, style and appearance, materials used, and the building technology used (Barron’s Dictionary of Real Estate Terms) Below are several examples of architectural styles from the National Association of Realtors: American Farmhouse Art Deco … More Real Estate Term of the Day: Architecture
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 Report & Appraised Value APPRAISAL REPORT – a written explanation of a property’s value including the data and reasoning used to derive the appraised value. Almost all appraisal reports are provided in a written format (Barron’s Dictionary of Real Estate Terms) An appraisal report will generally include: General … More Real Estate Term of the Day: Appraisal Report & Appraised Value
Real Estate Term of the Day: Appraisal Approach APPRAISAL APPROACH – one of 3 methods used to estimate the value of property (Barron’s Dictionary of Real Estate Terms) Cost Approach – based on the reproduction or replacement cost (new) of improvements, plus the market value of the site Market Comparison Approach – value is estimated … More Real Estate Term of the Day: Appraisal Approach
LESLIE MONACO REAL ESTATE 