Studying for your real estate license exam? Check out our resources on all the definitions you need to know while studying for your real estate exam.
You need to know several types of leasehold estates for your real estate exam, such as periodic tenancy, estate for years, tenancy at sufferance, and estate at will. This article will cover estates at will, what it is, how it …
For the real estate exam, you need to be familiar with deprecation and the three types of it. Today we talk about physical deterioration, the most common form of depreciation, the different kinds of physical deterioration, and more. What is …
Comparing effective age vs. economic life is an essential concept to understand for real estate professionals and appraisers. In this article, we define economic life, effective age, and actual age and compare the differences in terms. What is Economic Life? …
Planned unit developments have become increasingly popular in real estate, but what exactly are they? This article will cover the basic definition of what makes up a PUD (planned unit development), how they work, and how they are different from …
It’s essential to understand the steps in the appraisal process. With a combination of each step appraisers derive fair market value. These are the steps. Steps in the Appraisal Process Remember, an appraiser develops an opinion of value based on …
The principle of progression and regression are two of the main appraisal principles appraisers use to determine fair market value for a property. This article discusses progression, progression examples, regression, regression examples, real estate appraisal, and what you need to …