What is another word for plottage in real estate?
Words related to plottage area, field, part, piece, portion, property, acreage, allotment, apportionment, block, clearing, division, frontage, parcel, patch, percentage, plat, plot, tract, real estate. Slang.
What is the principle of regression in real estate?
The principle of regression states that the value of a more expensive property will decrease when less expensive properties come into the area. Thus, if your home is worth $500,00 and it is surrounded by $100,000 homes, the value of your property will go down.
What is an example of assemblage?
The use of assemblage as an approach to making art goes back to Pablo Picasso’s cubist constructions, the three dimensional works he began to make from 1912. An early example is his Still Life 1914 which is made from scraps of wood and a length of tablecloth fringing, glued together and painted.
What is assemblage also called?
ah·sem·blahj. Also Known As: construction, bricolage, collage (inaccurately), sculpture. Examples: Let’s save many thousands of words here and look at some pictures of assemblages done by different artists.
What is assemblage in design?
Assemblage Design is a three-dimensional abstract creative design consisting of “found” disparate objects and plant material. Objects must dominate and there should be three or more different objects included in the design. The plant material enhances the abstract design.
What are examples with property?
He owns several valuable properties in the area. a developer of commercial properties One of the properties of helium is its lightness. A unique property of garlic is its strong odor. The two plants have similar physical properties.
What is another name for inheritance in real estate?
inheritance, also called succession, the devolution of property on an heir or heirs upon the death of the owner.
What is the opposite of regression in real estate?
progression: The principle of progression is the opposite of the principle of regression, holding that a smaller and lesser maintained property in a well-kept neighborhood will sell for more than if the home were in an area of comparable properties.
What is PMI rate?
How Much Is PMI? PMI, like other types of insurance, is based on insurance rates that can change daily. PMI typically costs 0.1% – 2% of your loan amount per year.
What affects PMI cost?
What affects PMI rates? Your credit score, debt-to-income ratio and loan-to-value ratio, or LTV, can affect your PMI rate. Borrowers with low credit scores, high DTIs and smaller down payments will typically pay higher mortgage insurance rates.
What is regression in real estate?
Regression is a mathematical tool used by real estate appraisers to determine the likely value, or adjustment rates, of various property characteristics and ultimately predict sale prices.
What does anticipation mean in real estate?
Principle of Anticipation of Future Benefits Property is valuable because of the future benefits it is expected (anticipated) to provide. A property’s value may be defined as the present worth of the rights to all prospective future benefits, tangible and intangible, accruing to the ownership of real property.
What is the difference between construction and assemblage?
Assemblage is the construction of something new by assembling parts of old discarded objects in a new way. Construction is a sculpture built of many parts, such as pieces of wood, cardboard, or metal. Both these forms of sculpture are additive as in forms that are built up.
What is used in assemblage?
An assemblage is an art form in which different objects are generally found and comprised together in such a way that it forms a new object. The objects can be natural and artificial. Stones, woods, paper, and metal objects are included in it.
What does substitution mean in real estate?
The principle of substitution in real estate is an economic principle used to conduct a valuation of properties. This principle states that the maximum value of a property is set by the cost of an equally worthy alternative property with the same design and utility.
What is contribution in appraisal?
Explanation: The principle of contribution holds that the value of a component of property depends upon its contribution to the value of the total property. The cost of an improvement does not necessarily equal the value the component adds to the property.
What is the other name for real estate agent?
A Realtor is a licensed real estate agent or broker (or other real estate professional) who is a member of the National Association of Realtors (NAR).
What is the advantage of PMI?
It can help you buy a home sooner because it reduces the down payment. This means you don’t have to save as much – or as long – and can move towards becoming a homeowner faster. And in some cases, PMI can help you secure financing. PMI can open up more payment and housing options.
Can PMI be avoided?
You can avoid PMI by simultaneously taking out a first and second mortgage on the home so that no one loan constitutes more than 80% of its cost. You can opt for lender-paid mortgage insurance (LMPI), though this often increases the interest rate on your mortgage.
What happens if you overpay PMI?
Any overpayment amount is refunded approximately four weeks after a case is endorsed for FHA mortgage insurance.
