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Price Per Square Foot
Real estate appraisal, home appraisal, property valuation or land valuation is the process of assessing the value of real property (usually market value). The appraisal is conducted by a licensed appraiser. Real estate transactions often require appraisals to ensure fairness, accuracy, and financial security for all parties involved. Appraisal reports form the basis for mortgage loans, settling estates and divorces, taxation, etc. Sometimes an appraisal report is also used to establish a sale price for a property. Factors like size of the property, condition, age, and location play a key role in the valuation. Process for Obtaining an Appraisal Appraisals are often required by lenders for issuing or refinancing a loan. In such cases, when the borrower asks the lender for a loan or a refinance, the lender will order an appraisal. Once ordered, the borrower will have to schedule an appointment with the appraiser for the in-home visit. The appraiser will visit the property, ass ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Real Property
In English common law, real property, real estate, immovable property or, solely in the US and Canada, realty, refers to parcels of land and any associated structures which are the property of a person. For a structure (also called an Land improvement, improvement or Fixture (property law), fixture) to be considered part of the real property, it must be integrated with or affixed to the land. This includes crops, buildings, machinery, wells, dams, ponds, mines, canals, and roads. The term is historic, arising from the now-discontinued form of action, which distinguished between real property disputes and personal property disputes. Personal property, or personalty, was, and continues to be, all property that is not real property. In countries with personal ownership of real property, civil law (legal system), civil law protects the status of real property in real-estate markets, where estate agents work in the market of buying and selling real estate. Scottish civil law calls ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Plottage
Plottage is the increase in value realized by combining adjacent parcels of land into one larger parcel. The process of combining the parcels is known as assemblage. Generally, the value of the whole parcel will be greater than the sum of the individual smaller parcels. Sources External sourcesEstimating assemblage value to help buyers and sellers Real estate terminology {{realestate-stub ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Utility
In economics, utility is a measure of a certain person's satisfaction from a certain state of the world. Over time, the term has been used with at least two meanings. * In a normative context, utility refers to a goal or objective that we wish to maximize, i.e., an objective function. This kind of utility bears a closer resemblance to the original utilitarian concept, developed by moral philosophers such as Jeremy Bentham and John Stuart Mill. * In a descriptive context, the term refers to an ''apparent'' objective function; such a function is revealed by a person's behavior, and specifically by their preferences over lotteries, which can be any quantified choice. The relationship between these two kinds of utility functions has been a source of controversy among both economists and ethicists, with most maintaining that the two are distinct but generally related. Utility function Consider a set of alternatives among which a person has a preference ordering. A utility fu ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Depreciated
In accountancy, depreciation refers to two aspects of the same concept: first, an actual reduction in the fair value of an asset, such as the decrease in value of factory equipment each year as it is used and wears, and second, the allocation in accounting statements of the original cost of the assets to periods in which the assets are used (depreciation with the matching principle). Depreciation is thus the decrease in the value of assets and the method used to reallocate, or "write down" the cost of a tangible asset (such as equipment) over its useful life span. Businesses depreciate long-term assets for both accounting and tax purposes. The decrease in value of the asset affects the balance sheet of a business or entity, and the method of depreciating the asset, accounting-wise, affects the net income, and thus the income statement that they report. Generally, the cost is allocated as depreciation expense among the periods in which the asset is expected to be used. Accountin ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
American Measurement Standard
The American Measurement Standard is an authoritative measurement standard for use with single-family dwellings. The AMS 2020 edition is a voluntary guide developed for the measurement, calculation, and communication of square footage in residential dwellings. Description This standard defines eight specific categories for the reporting of all space associated with a residential dwelling. The AMS helps to establish common and logical definitions of "finished square footage" and "gross living area." The methodology of the American Measurement Standard was compiled and edited by a consensus of real estate professionals including real estate agents, appraisers, assessors, home builders and architects, and is based on the exterior dimensions of a dwelling. The AMS contains over three times more specific home measurement details than any other square footage guideline and includes numerous illustrations and examples. The standard provides acceptable square footage calculations for us ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Market Analysis
A market analysis studies the attractiveness and the dynamics of a special market within a special industry. It is part of the industry analysis and thus in turn of the global environmental analysis. Through all of these analyses the strengths, weaknesses, opportunities and threats (SWOT) of a company can be identified. Finally, with the help of a SWOT analysis, adequate business strategies of a company will be defined. The market analysis is also known as a documented investigation of a market that is used to inform a firm's planning activities, particularly around decisions of inventory, purchase, work force expansion/contraction, facility expansion, purchases of capital equipment, promotional activities, and many other aspects of a company. Market segmentation Market segmentation is the basis for a differentiated market analysis. Differentiation is important. One main reason is the saturation of consumption, which exists due to the increasing competition in offered produc ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Skyscrapers
A skyscraper is a tall continuously habitable building having multiple floors. Most modern sources define skyscrapers as being at least or in height, though there is no universally accepted definition, other than being very tall high-rise buildings. Skyscrapers may host offices, hotels, residential spaces, and retail spaces. One common feature of skyscrapers is having a steel frame that supports curtain walls. These curtain walls either bear on the framework below or are suspended from the framework above, rather than resting on load-bearing walls of conventional construction. Some early skyscrapers have a steel frame that enables the construction of load-bearing walls taller than those made of reinforced concrete. Modern skyscraper walls are not load-bearing, and most skyscrapers are characterized by large surface areas of windows made possible by steel frames and curtain walls. However, skyscrapers can have curtain walls that mimic conventional walls with a small surface ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Income Approach
The income approach is a real estate appraisal valuation method. It is one of three major groups of methodologies, called valuation ''approaches'', used by appraisers. It is particularly common in commercial real estate appraisal and in business appraisal. The fundamental math is similar to the methods used for Valuation (finance), financial valuation, securities analysis, or bond pricing. However, there are some significant and important modifications when used in real estate or business valuation. While there are quite a few acceptable methods under the rubric of the income approach, most of these methods fall into three categories: direct capitalization, discounted cash flow, and gross income multiplier. Direct capitalization This is simply the quotient of dividing the annual net operating income (NOI) by the appropriate capitalization rate ("cap rate"). For income-producing real estate, the NOI is the net income of the real estate (but not the business interest) plus any i ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Cost Approach
Cost approach is a real estate appraisal valuation method used to price an individual property.Uniform Standard of Professional Appraisal Practice, 2008, Appraisal Foundation, Standards Rule 1-4(b) p. U18 It is one of three methods, the others being market approach, or sales comparison approach, and income approach. The fundamental premise of the cost approach is that a potential user of real estate will not, or should not, pay more for a property than it would cost to build an equivalent. The cost of construction minus depreciation, plus land, therefore is a limit, or at least a metric, of market value. Methodology There are some fairly large assumptions embedded in the approach. One of the basics is that there is a sufficient supply of buildable land that construction is a viable alternative to purchase of an existing property. In some parts of the world today, including in the US, there are areas which are either so fully developed, or so restrictive in their planning approv ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Sales Comparison Approach
The sales comparison approach (SCA) is a real estate appraisal valuation method that relies on the assumption that a matrix of attributes or significant features of a property drive its value. For examples, in the case of a single family residence, such attributes might be floor area, views, location, number of bathrooms, lot size, age of the property and condition of property. This method is in contrast to the two other main pricing methods for real estate which are cost approach and income approach. Economic Basis The sales comparison approach is based upon the principles of supply and demand, as well as upon the principle of substitution. Supply and demand indicates value through typical market behavior of both buyers and sellers. Substitution indicates that a purchaser would not purchase an improved property for any value higher than it could be replaced for on a site with equivalent utility, assuming no undue delays in construction. Examples of Methods In practice, the most c ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Raleigh, North Carolina
Raleigh ( ) is the List of capitals in the United States, capital city of the U.S. state of North Carolina. It is the List of municipalities in North Carolina, second-most populous city in the state (after Charlotte, North Carolina, Charlotte), the largest city in the Research Triangle area, and the List of United States cities by population, 39th-most populous city in the U.S. Known as the "City of Oaks" for its oak-lined streets, Raleigh covers and had a population of 467,665 at the 2020 United States census, 2020 census. It is the county seat of Wake County, North Carolina, Wake County and named after Sir Walter Raleigh, who founded the lost Roanoke Colony. Raleigh is home to North Carolina State University and is part of the Research Triangle, which includes Durham, North Carolina, Durham (home to Duke University and North Carolina Central University) and Chapel Hill, North Carolina, Chapel Hill (home to the University of North Carolina at Chapel Hill). The Research Triang ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Tree Measurement
Trees have a wide variety of sizes and shapes and growth habits. Specimens may grow as individual trunks, multitrunk masses, coppices, clonal colonies, or even more exotic tree complexes. Most champion tree programs focus finding and measuring the largest single-trunk example of each species. There are three basic parameters commonly measured to characterize the size of a single trunk tree: tree height measurement, tree girth measurement, and tree crown measurement. Foresters also perform tree volume measurements. A detailed guideline to these basic measurements is provided in ''The Tree Measuring Guidelines of the Eastern Native Tree Society'' by Will Blozan.Blozan, Will. 2006. Tree Measuring Guidelines of the Eastern Native Tree Society. Bulletin of the Eastern Native Tree Society, Volume 1, Number 1, Summer 2006. pp. 3–10. These are summaries of how to measure trees are also presented by various groups involved in documenting big trees around the world. These include among oth ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
