economic obsolescence image

Economic Obsolescence Definition

If a new highway is built right next to a home, the noise could disincentivize people from wanting to live there. This is an example of Economic Obsolescence. What is Economic Obsolescence? Definition: Refers to the loss of property value …

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functional obsolecence

Functional Obsolescence Definition

Imagine owning a home you are pretty happy with. You have a beautiful two-story house in a lovely fantastic neighborhood, but…. Your home is a bit outdated. In fact, all the new homes in the neighborhood and market have at …

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emblements image

Emblements Definition

Let’s pretend you and your family are renting a beautiful farm and living there for years. You grow lots of vegetables each season and start to become successful farmers. You sign a yearly lease, and overall your relationship with your …

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easement image

Easement Definition

Imagine you’ve just fallen in love with a beautiful home, but on the day of your home inspection, you notice your potentially new neighbor driving right through your property. You do your research, ask around, and find the property records. …

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