Front Foot
Definition of "Front foot"
The definition of front foot is a person or an entity that has an advantage or has the initiative. It could also be used to suggest that someone is taking an offensive position. Based on the context, being on the front foot means that you take initiative or you have an advantage. For example, saying that a football team is on the front foot, means that team has an advantage over their opponents or they are winning.
Front foot in real estate
In real estate, we define front foot as a property measurement of the front footage of a parcel of property adjoining the street. In real estate more land is always better for the value of the property.
In urban areas, the front foot measurement is an extremely important indicator of property value and property is often evaluated on the basis of cost per front foot. Normally, the front foot is the first measure shown in a property description.
In commercial real estate it is important to have a wide lot, which means the bigger the front foot of a commercial property the better, because this allows for larger spaces where you can advertise more.
For houses the front foot is important because on a wider lot it is possible to build a larger house or to create more space between the house and other buildings next to the lot. Also it allows for better parking in front of the property or to build a duplex on the lot.
Popular Real Estate Terms
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Comments for Front Foot
City wants to purchase 711 sq ft of my front property for a city sidewalk project. My home is valued @550,000 at 2300 sq foot home. Total lot size is 20,710. With that info what would fair market value be?
Oct 31, 2022 23:46:35Hello! Your property's worth greatly depends on various factors, such as real estate comps or comparable sales defining closed home transactions in your area. To establish a realistic estimate, we recommend you contact your local realtor and real estate appraisers! Without knowing specific details, $183,000 would be a fair starting value. Nevertheless, getting experts should be the right course of action. We wish you good luck!
Nov 01, 2022 12:30:23I am studying for the new jersey real estate exam and having problems with measurements
Mar 29, 2020 18:46:22Hey, Elyse! What are you exactly looking for? How can we help you in this regard?
Apr 08, 2020 08:46:06How do you figure if a broker has the listing on a vacant lot of 100 feet wide by 125 feet deep that is for sale at $250 per front foot. What would be the commission at 8% of the sales tax. And how do you figure it
Jul 11, 2019 15:30:51Hello, Shirley! A lot with 100 feet by the street, selling for $250 per front foot would have a selling price of $25,000. We are not sure we understand your question, though. Normally, an 8% commission is quite unusual. It is true that most real estate agents are paid a commission instead of a salary, but that is usually between two and six percent. However, 8% of $25,000 is $2,000. Let us know if we can further assist you with anything or contact the local real estate agents in Arizona.
Jul 16, 2019 07:59:21Have a question or comment?
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