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Comparables
Comparables (or comps) is a real estate appraisal term referring to properties with characteristics that are similar to a subject property whose value is being sought. This can be accomplished either by a real estate agent who attempts to establish the value of a potential client's home or property through market analysis or, by a licensed or certified appraiser or surveyor using more defined methods, when performing a real estate appraisal. Factors Five factors are usually considered when determining comparables: * ''Conditions of Sale'': Did the comparable recently transact under conditions (e.g. arm's length, distress sale, estate settlement) which are consistent with the standard of value under which the appraisal is being performed? * ''Financing Conditions'': Was the comparable transaction influenced by non-market or other favorable (or even unfavorable) financing terms? For example, if the comparable sold with a below-market interest rate provided by the seller, and if the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Real Estate Appraisal
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, a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Real Estate Agent
Real estate agents and real estate brokers are people who represent sellers or buyers of real estate or real property. While a broker may work independently, an agent usually works under a licensed broker to represent clients. Brokers and agents are licensed by the state to negotiate sales agreements and manage the documentation required for closing real estate transactions. Categories of representation A real estate broker typically receives a real estate commission for successfully completing a sale. Across the U.S, this commission can generally range between 5-6% of the property's sale price for a full-service broker but this percentage varies by state and even region. Real estate licensing and education In most jurisdictions in the United States, a person must have a license to perform licensed activities, and these activities are defined within the statutes of each state. The main feature of the requirement for having a license to perform those activities is the work do ... [...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] |
Market Value
Market value or OMV (open market valuation) is the price at which an asset would trade in a competitive auction setting. Market value is often used interchangeably with ''open market value'', ''fair value'' or '' fair market value'', although these terms have distinct definitions in different standards, and differ in some circumstances. Definition International Valuation Standards defines market value as "the estimated amount for which a property should exchange on the date of valuation between a willing buyer and a willing seller in an arm’s-length transaction after proper marketing wherein the parties had each acted knowledgeably, prudently, and without compulsion". Market value is a concept distinct from market price, which is "the price at which one can transact", while market value is "the true underlying value" according to theoretical standards. The concept is most commonly invoked in inefficient markets or disequilibrium situations where prevailing market prices a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Standard Costing
Standard may refer to: Symbols * Colours, standards and guidons, kinds of military signs * Standard (emblem), a type of a large symbol or emblem used for identification Norms, conventions or requirements * Standard (metrology), an object that bears a defined relationship to a unit of measure used for calibration of measuring devices * Standard (timber unit), an obsolete measure of timber used in trade * Breed standard (also called bench standard), in animal fancy and animal husbandry * BioCompute Standard, a standard for next generation sequencing * ''De facto'' standard, product or system with market dominance * Gold standard, a monetary system based on gold; also used metaphorically for the best of several options, against which the others are measured * Internet Standard, a specification ratified as an open standard by the Internet Engineering Task Force * Learning standards, standards applied to education content * Standard displacement, a naval term describing th ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
New York City
New York, often called New York City (NYC), is the most populous city in the United States, located at the southern tip of New York State on one of the world's largest natural harbors. The city comprises five boroughs, each coextensive with a respective county. The city is the geographical and demographic center of both the Northeast megalopolis and the New York metropolitan area, the largest metropolitan area in the United States by both population and urban area. New York is a global center of finance and commerce, culture, technology, entertainment and media, academics, and scientific output, the arts and fashion, and, as home to the headquarters of the United Nations, international diplomacy. With an estimated population in 2024 of 8,478,072 distributed over , the city is the most densely populated major city in the United States. New York City has more than double the population of Los Angeles, the nation's second-most populous city. [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
John A
Sir John Alexander Macdonald (10 or 11January 18156June 1891) was the first prime minister of Canada, serving from 1867 to 1873 and from 1878 until his death in 1891. He was the Fathers of Confederation, dominant figure of Canadian Confederation, and had a political career that spanned almost half a century. Macdonald was born in Scotland; when he was a boy his family immigrated to Kingston, Ontario, Kingston in the Province of Upper Canada (today in eastern Ontario). As a lawyer, he was involved in several high-profile cases and quickly became prominent in Kingston, which elected him in 1844 to the legislature of the Province of Canada. By 1857, he had become List of Joint Premiers of the Province of Canada, premier under the colony's unstable political system. In 1864, when no party proved capable of governing for long, he agreed to a proposal from his political rival, George Brown (Canadian politician), George Brown, that the parties unite in a Great Coalition to seek fede ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Brownfields
Brownfield is previously-developed land that has been abandoned or underused, and which may carry pollution, or a risk of pollution, from industrial use. The specific definition of brownfield land varies and is decided by policy makers and land developers within different countries. The main difference in definitions of whether a piece of land is considered a brownfield or not depends on the presence or absence of pollution. Overall, brownfield land is a site previously developed for industrial or commercial purposes and thus requires further development before reuse. Examples of post industrial brownfield sites include abandoned factories, dry cleaning establishments, and gas stations. Typical contaminants include hydrocarbon spillages, solvents and pesticides, asbestos, and heavy metals like lead. Many contaminated post-industrial brownfield sites sit unused because the cleaning costs may be more than the land is worth after redevelopment. Previously unknown underground w ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Michael Gerrard
Michael Burr Gerrard is an American legal scholar. He is the Andrew Sabin Professor of Professional Practice at Columbia Law School. Biography Gerrard was born in New York City, where his parents were graduate students at Columbia University, and grew up in Charleston, West Virginia. His father, Nathan L. Gerrard, was a professor of sociology at the University of Charleston, and his mother, Louise B. Gerrard, was the executive director of the West Virginia Council on Aging. He received his B.A. from Columbia in 1972, followed by a J.D. from the New York University School of Law in 1978 as a Root-Tilden Scholar. From 1979 to 2008, he was a lawyer at Arnold & Porter and served as the partner in charge of its New York City office. He was known for his environmental practice before departing the partnership to join the faculty of Columbia Law School. His specialty includes environmental law, regulation, and climate change policy. Gerrard founded and directed the law school's Cent ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Uniform Standards Of Professional Appraisal Practice
Uniform Standards of Professional Appraisal Practice (USPAP) can be considered the quality control standards applicable for real property, personal property, intangible assets, and business valuation appraisal analysis and reports in the United States The United States of America (USA), also known as the United States (U.S.) or America, is a country primarily located in North America. It is a federal republic of 50 U.S. state, states and a federal capital district, Washington, D.C. The 48 ... and its territories. USPAP, as it is commonly known, was first developed in the 1980s by a joint committee representing the major U.S. and Canadian appraisal organizations. As a result of the savings and loan crisis, the Appraisal Foundation (TAF) was formed by these same groups, along with support and input from major industry and educational groups, and TAF took over administration of USPAP. The Financial Institutions Reform, Recovery and Enforcement Act of 1989 (FIRREA) authoriz ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
