Glossary

Gateway markets, such as Los Angeles and New York, attract significant investment due to stability, strong commercial real estate, and long-term gains.

The real estate absorption rate measures how quickly homes sell, indicating market conditions. It’s calculated by dividing homes sold by available inventory.

Leasehold improvements are tenant modifications to a commercial property. Landlords may contribute to costs. Tax treatment allows potential depreciation benefits.

FSBO (For Sale By Owner) means selling a home without a real estate agent to save money and maintain control.

Obsolescence in real estate can reduce property value due to economic, functional, or external factors beyond physical deterioration.

In real estate, PML stands for “Probable Maximum Loss.” Experts mainly use this term in risk assessment. It applies to properties that face natural dangers like earthquakes, floods, or hurricanes.

In real estate, MSA means Metropolitan Statistical Area. MSA is a region with a busy central area and strong economic connections to nearby places. The Office of Management and Budget

In real estate, a benchmark is a standard. It is used to measure and compare the performance of a property, portfolio, or market with others. Benchmarks help real estate professionals,

In business property, Tenant Improvement (TI) refers to changes made to a leased commercial space to meet the tenant’s needs. These modifications could range from new floors and lights to

Optical Character Recognition (OCR) technology is currently automating the process of extracting text from scanned documents. This greatly reduces the amount of time real estate agents spend on manual data