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Real Estate Term of the Week

Radon mitigation: is any process used to reduce radon gas concentrations in the breathing zones of occupied homes and buildings, or radon from water supplies. Radon is a significant contributor to environmental radioactivity. Mitigation...

Real Estate Term of the Week

Effective Age: The number of years of age that is indicated from the condition of a structure’s improvement rather than from its actual chronological age, as determined by an appraiser. The actual age of...

Real Estate Term of the Week

Hardscape: Man-made features in landscape architecture, such as a brick patio, a stone wall, or a wood arbor. Common examples of hardscape materials include concrete, brick, stone, wood, and metal

Real Estate Term of the Week

Market Price: In real estate, a home’s market price is the price agreed upon by a willing buyer and a willing seller. That price might not be the original listing price, or even represent...

Real Estate Term of the Week

Home Equity: The market value of a homeowner’s unencumbered interest in their real property, that is, the difference between the home’s fair market value and the outstanding balance of all liens on the property....