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Highest and best use
Highest and best use The reasonably probable and legal use of vacant land or an improved property that is physically possible, appropriately supported, financially feasible and that results in the highest value.
RELATED TERMS--------------------------------------
Land
The earth's surface, extending downward to the center of the earth and upward infinitely into space, including things permanently attached by nature, such as trees and water.
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.
Value
The measure of the monetary equivalent of a property. The four essential elements of value are utility, scarcity, demand and transferability.
SIMILAR TERMS--------------------------------------
High density
The concentration of housing units in a specific area or on a specific property.
High-LTV equity loan
A home equity loan that creates a total loan to value ratio of up to 125 percent or more.
High-rise
In the central business district, this could mean a building higher than 25 stories above ground level, but in suburban markets, it generally refers to buildings higher than seven or eight stories.
Highrise developments
Sometimes called mixed-use developments (MUDs), these combine office space, stores, theaters and apartment units in a single vertical community.
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HELP
Homebuyer Education Learning Program; an educational program from the FHA that counsels people about the homebuying process; HELP covers topics like budgeting, finding a home, getting a loan, and home maintenance.
Hereditaments
Property capable of being inherited.
Hers score
A number between 0-100 that is used to designate the energy efficiency of a home compared to guidelines established by the Home Energy Rating System Council.
Heterogeneity
The quality or state of being heterogeneous; different in kind; unlike; incongruous.
High density
The concentration of housing units in a specific area or on a specific property.
Highest and best use
High-LTV equity loan
A home equity loan that creates a total loan to value ratio of up to 125 percent or more.
High-rise
In the central business district, this could mean a building higher than 25 stories above ground level, but in suburban markets, it generally refers to buildings higher than seven or eight stories.
Highrise developments
Sometimes called mixed-use developments (MUDs), these combine office space, stores, theaters and apartment units in a single vertical community.
Hip roof
A pitched roof with sloping sides.
Historic preservation
A movement to protect buildings with historic value from destruction or extensive renovation.
This dictionary contains 6433 terms. |
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