Category: R

REAL ESTATE FLUCTUATIONS RETOTD Episode 00304

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REAL ESTATE FLUCTUATIONS Short-term variations in real estate prices or rents (usually lasting anywhere from one day to a few months) caused by natural hazards (such as tornadoes, hurricanes, floods, earthquakes, and wildfires) or boosts or shocks to the local…

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REAL ESTATE BROKER RETOTD Episode 00303

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REAL ESTATE BROKER A real estate professional licensed to negotiate the purchase and sale of real estate for a commission or fee. In most states, a broker is one step up from a real estate agent, having more training and…

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RANGE RETOTD Episode 00301

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RANGE The maximum distance consumers are willing to travel to purchase a good or service from a given establishment or location. Hence, the boundary or outer limits of the market area circumscribed about a location at which a good or…

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RATE ADJUSTMENT PERIODS RETOTD Episode 00237

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RATE ADJUSTMENT PERIODS With most ARMs, any periodic adjustment in the interest rate changes the payment. Adjustment periods tend to reflect the period of the index of the most popular ARMs; currently, annual adjustments are the most common. You should…

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REAL ESTATE CYCLES (PHASES) RETOTD Episode 00238

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REAL ESTATE CYCLES (PHASES) The regularly repeating sequence of economic downturns and upturns and associated changes in real estate market transactions tied to market dynamics and changing macroeconomic conditions, whose phases include (in order) recession, recovery, expansion, and oversupply.

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REHABILITATION MORTGAGE RETOTD Episode 00162

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REHABILITATION MORTGAGE A mortgage that covers the costs of rehabilitating (repairing or Improving) a    property; some rehabilitation mortgages – like the FHA’s 203(k) – allow a borrower to roll the costs of rehabilitation and home purchase into one mortgage…

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REGULATORY REQUIREMENTS RETOTD Episode 00160

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REGULATORY REQUIREMENTS In reference to land use, they are restrictions or guidelines on development or use of land, properties, or facilities as defined in accordance with design standards, building construction requirements, land use plans, occupancy codes, and zoning classifications as…

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RECOVERY RETOTD Episode 00159

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RECOVERY A period of increasing economic activity or a general economic upturn, typically following a stabilization of key sectors and industries, marked by increasing sales and recovering prices in real estate markets as a direct result of an external shock…

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REPLACEMENT COST RETOTD Episode 00144

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REPLACEMENT COST The estimated cost to construct, at current prices, a building with utility equivalent to the building being appraised, using modern materials and current standards, design, and layout. [Appraisal Institute]

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