Neighborhood Life Cycle
Definition of "Neighborhood life cycle"
Changes occurring in neighborhoods over time. The neighborhood life cycle includes the phases of birth, early growth, maturity, and decline. Not all neighborhoods pass through them more quickly the others. Neighborhoods decline for several reasons. The physical aging and deterioration of the building structures as well as the aging of the population contribute to the overall decline. Architectural obsolescence also makes these neighborhoods less attractive. Other changes include the intrusion of a business or industrial area into the neighborhood detracting from its overall quality.
Popular Real Estate Terms
Zoning a portion of land in a given area for different purposes than its surrounding functions. For example, a locality may decide to spot zone a vacant lot in a residential area for ...
Stiff pipe used to cover electrical wiring for safety purposes. ...
Geographic area that is attractive to prospective tenants. Square footage in an office building or apartment house that may be rented by a tenant. ...
Features a home buyer orders from a custom builder or developer when purchasing a home. For example, a customer may order a two-car garage when buying a home requiring an additional charge. ...
Window having both screens and storm windows that can be easily interchanged according to seasonal needs. ...
Right of property owner to have his or her property used in satisfying a loan. Written contract of court judgment placing a lien on a parcel of property as collateral for a loan. An ...
Period of time between valuations of property for tax purposes in a given locality. ...
Real rate of interest on a loan. It is the coupon rate divided by the net proceeds of the loan. Assume Sharon took out a $1,000,000, on year, 10% discounted loan to buy real estate. The ...
The definition of an absentee owner is a property owner who does not reside on the property. An absentee can be an individual or a corporation with legal ownership over a property ...
Have a question or comment?
We're here to help.