Principle Of Supply And Demand
Definition of "Principle of supply and demand"
Economic principle determining the market prices of goods, services, and property. The principle states there is a pricing relationship between supply and demand for real property. Economic forces interact affecting the overall pricing relationship. If demand for a given property increases and the supply remains constant, then the price will increase. However, an increase in price will then spur increased supply which will tend to depress prices.
Popular Real Estate Terms
An actual location’s elevation defines the height or space below or above an established reference point. We call this point geoid, a math model of our planet’s sea level. ...
- What are the closing costs?Closing costs are the fees and expenses paid during Closing. They are not included in the final purchase price of the property.- How much are the closing ...
The adjudication definition is a legal ruling or judgment used in the justice system when a case is settled or finalized. To define adjudication, we must look at the justice system and how ...
Insulating material attached to crevices around doors and windows to prevent air from either entering or escaping from a structure. Tacked, stapled, or glued onto the surfaces of the doors ...
Giving one's approval to another, e.g., a fiduciary, to manage his or her finances. ...
Large scale map of an urban area detailing land use. City plans are essential for projecting the growth, development, and redevelopment of the urban area. The major objective of a city plan ...
An easement granted to a public utility. ...
Amount by which the appraised value of property exceeds the debt balance. If property has a fair market value of $ 250,000 while the mortgage balance is $110,000, the owner's equity in the ...
An adjustment to the internal rate of return (IRR) computation so as to improve this measure. This uses a risk-free after-tax rate and a customary rate for money reinvestment. ...
Have a question or comment?
We're here to help.