Principal of Supply and Demand
Principal of Supply and Demand – David Reecher Economic principle determining the market prices of goods, services, and property. The principle states that there is a pricing relationship betwee... Read More
Principle of Substitution
Principle of Substitution – David Reecher Highest amount a property is worth equal to the amount that would have to be paid to buy equivalent property in the market place.... Read More
Principle of Regression
Principle of Regression – David Reecher Appraisal term stating that the value of higher-end real estate can be brought down by the proximity to lower-end properties.... Read More
Principle of Progression
Principle of Progression – David Reecher Appraisal term stating that the value of lower-end real estate is enhanced by the proximity of higher-end properties.... Read More
Principle of Conformity
Principle of Conformity – David Reecher The concept that a house will be more likely to appreciate in value if it is similar to other houses in the neighborhood.... Read More
Principal, Interest, Taxes and Insurance (PITI)
Principal, Interest, Taxes and Insurance (PITI) – David Reecher Payment amount calculated to include the principal, interest, taxes and insurance on an amortizing loan and represents the borrowe... Read More
Prime Tenant
Prime Tenant – David Reecher Major tenant in an office building or shopping center. The prime tenant occupies more space than the others and will attract customers to the site. They are normally... Read More
Prime Lending Rate
Prime Lending Rate – David Reecher Minimum short-term interest rate charged by commercial banks to their most creditworthy clients. Prime is used as the basis for mortgages, business and persona... Read More