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Economic obsolescence
Economic obsolescence Loss of useful life and desirability of a property through economic forces, such as change in zoning, changes in traffic flow, etc.
RELATED TERMS--------------------------------------
Life
Cycle costing In property management, comparing one type of equipment to another based on both purchase cost and operating cost over its expected useful lifetime.
Property
The rights of ownership. The right to use, possess, enjoy, and dispose of a thing in every legal way and to exclude everyone else from interfering with these rights.
Change
The appraisal principle that holds that no physical or economic condition remains constant.
Zoning
The division of a city or town into zones and the application of regulations having to do with the architectural design and structural and intended uses of buildings within such zones.
SIMILAR TERMS--------------------------------------
Economic feasibility
The feasibility of a building or project in terms of costs and revenue, with excess revenue establishing the degree of viability
Economic life
1) The estimated period over which an improved property may be profitably used so that it will yield a return over and above the economic rent attributable to the land itself; the period during which an improvement has value in excess of its salvage value. 2) As applied to a structure, the years or age indicated by the condition and utility of the structure, as opposed to its actual or chronological age.
Economic rent
The market rental value of a property at a given point in time
PREVIOUS AND NEXT TERMS--------------------------------------
Easton v. Strassburger
The duty of the licensee to make a reasonable investigation of the property evolved from the case of Easton v. Strassburger (1984).
Eaves
The projecting overhang at the lower edge of a roof.
Echeck
An electronic version or representation of a paper check. The account holder writes an echeck using a computer or other type of electronic device and transmits the echeck to the payee electronically.
Economic feasibility
The feasibility of a building or project in terms of costs and revenue, with excess revenue establishing the degree of viability
Economic life
1) The estimated period over which an improved property may be profitably used so that it will yield a return over and above the economic rent attributable to the land itself; the period during which an improvement has value in excess of its salvage value. 2) As applied to a structure, the years or age indicated by the condition and utility of the structure, as opposed to its actual or chronological age.
Economic obsolescence
Economic rent
The market rental value of a property at a given point in time
EEM
Energy Efficient Mortgage.
Effective age
An appraiser’s estimate of the physical condition of a building. The actual age of a building may be shorter or longer than its effective age.
Effective date
The date on which a registration statement becomes effective and the sale of securities can commence
Effective federal funds rate
The average interest rate that federal funds actually trade at in a day.
This dictionary contains 6433 terms. |
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