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Real estate economics is the application of economic techniques to real estate markets. It aims to describe and predict economic patterns of supply and demand . The closely related field of housing economics is narrower in scope, concentrating on residential real estate markets, while the research on real estate trends focuses on the business ...
In real estate, a home’s fair market value is the price that a willing buyer would pay a willing seller for the home in an open market, without current supply and demand conditions being present ...
The Real Estate Counseling Group of America is a small group of top U.S. appraisers and real estate analysts who have collectively authored a disproportionately large body of appraisal methodology and, the National Association of Real Estate Appraisers (NAREA), founded in 1966, with the goal to elevate the professionalism and success of the ...
Real estate bubbles are invariably followed by severe price decreases (also known as a house price crash) that can result in many owners holding mortgages that exceed the value of their homes. [ 32 ] 11.1 million residential properties, or 23.1% of all U.S. homes, were in negative equity at December 31, 2010. [ 33 ]
Examples include a 3-dimensional scale model of a building or the scale drawings of the elevations or plans of a building. [1] In such cases the scale is dimensionless and exact throughout the model or drawing. The scale can be expressed in four ways: in words (a lexical scale), as a ratio, as a fraction and as a graphical (bar) scale.
The most common definition used by real estate appraisers is as follows [2] The most probable price that a specified interest in real property is likely to bring under all of the following conditions: Consummation of a sale will occur within a severely limited future marketing period specified by the client.
The first formal Southern Furniture Market was held in High Point March 1–15, 1909. In 1921, the Southern Furniture Exposition Building opened for its first show June 20. Built in 19 months, the showroom cost approximately $1 million and held 249,000 square feet (23,100 m 2) of exhibition space. Regular shows were held in January and July.
Example: $200,000 Sale Price / (750 per month rent * 12 months) = 22.22 Today, it is quite common for GRM to be quoted by real estate professionals using annual rents rather than monthly rents. A 100 GRM (monthly rents) = 8.33 GRM (annual rents). An 8.33 GRM calculated on annual rents suggests the gross rent will pay for the property in 8.33 years.