This aims to be a complete list of the articles on real estate.
Market value or OMV is the price at which an asset would trade in a competitive auction setting. Market value is often used interchangeably with open market value, fair value or fair market value, although these terms have distinct definitions in different standards, and differ in some circumstances.
Real estate appraisal, property valuation or land valuation is the process of developing an opinion of value for real property. Real estate transactions often require appraisals because they occur infrequently and every property is unique, unlike corporate stocks, which are traded daily and are identical. The location also plays a key role in valuation. However, since property cannot change location, it is often the upgrades or improvements to the home that can change its value. Appraisal reports form the basis for mortgage loans, settling estates and divorces, taxation, and so on. Sometimes an appraisal report is used to establish a sale price for a property.
The Royal Institution of Chartered Surveyors (RICS) is a global professional body for those working in the Built Environment, Construction, Land, Property and Real Estate. The RICS was founded in London in 1868. It works at a cross-governmental level, and aims to promote and enforce the highest international standards in the valuation, management and development of land, real estate, construction and infrastructure.
Comparables is a real estate appraisal term referring to properties with characteristics that are similar to a subject property whose value is being sought. This can be accomplished either by a real estate agent who attempts to establish the value of a potential client's home or property through market analysis or, by a licensed or certified appraiser or surveyor using more defined methods, when performing a real estate appraisal.
A home inspection is a limited, non-invasive examination of the condition of a home, often in connection with the sale of that home. Home inspections are usually conducted by a home inspector who has the training and certifications to perform such inspections. The inspector prepares and delivers to the client a written report of findings. The client then uses the knowledge gained to make informed decisions about their pending real estate purchase. The home inspector describes the condition of the home at the time of inspection but does not guarantee future condition, efficiency, or life expectancy of systems or components.
Real estate investing involves the purchase, management and sale or rental of real estate for profit. Someone who actively or passively invests in real estate is called a real estate entrepreneur or a real estate investor. Some investors actively develop, improve or renovate properties to make more money from them.
The Appraisal Foundation (TAF) is the United States organization responsible for setting standards for the real estate valuation profession. The organization sets the congressionally authorized standards and qualifications for real estate appraisers, and provides voluntary guidance on recognized valuation methods and techniques for all valuation professionals. The aim is to ensure appraisals are impartial, objective and independent, are conducted without bias and are performed in an ethical and competent manner.
A building control body is an organisation authorised to control building work that is subject to the Building Regulations in England and Wales (similar systems are provided in Northern Ireland, and in Scotland where the term 'building standards' is used. Such regulations or standards are also known as building codes in other parts of the world.
The income approach is one of three major groups of methodologies, called valuation approaches, used by appraisers. It is particularly common in commercial real estate appraisal and in business appraisal. The fundamental math is similar to the methods used for financial valuation, securities analysis, or bond pricing. However, there are some significant and important modifications when used in real estate or business valuation.
The International Valuation Standards Council (IVSC) is an independent, not-for-profit, private sector standards organisation incorporated in the United States and with its operational headquarters in London, UK. IVSC develops international technical and ethical standards for valuations on which investors and others rely.
The American Society of Appraisers (ASA) is an American nonprofit organization which serves as a professional affiliation of appraisers of all disciplines. The organization is the largest multi-discipline, voluntary membership, trade association representing and promoting their member appraisers.
The American Measurement Standard is an authoritative measurement standard for use with single-family dwellings. The AMS 2020 edition is a voluntary guide developed for the measurement, calculation, and communication of square footage in residential dwellings.
The Chartered Institution of Civil Engineering Surveyors or CICES is a professional association in the field of civil engineering surveying, headquartered in the United Kingdom. CICES members consist mainly of commercial managers, quantity surveyors, and geospatial engineers working and studying within civil engineering surveying. The institution began in 1969 as the Association of Surveyors in Civil Engineering, became a registered educational charity in 1992, and received a royal charter in 2009. The institution advocates for engineering projects and education.
Isurv is an online information service for expertise in natural and built environments. It was launched in September 2003 by the Royal Institution of Chartered Surveyors (RICS) and provides insight from verified legal experts and industry practitioners relating to construction.
Environmental surveying is the title of a profession within the wider field of surveying, the practitioners of which are known as environmental surveyors. Environmental surveyors use surveying techniques to understand the potential impact of environmental factors on real estate and construction developments, and conversely the impact that real estate and construction developments will have on the environment.
The International Right of Way Association (IRWA) is considered the central authority for right of way education and certification programs, as well as professional services, worldwide.
A Chartered Building Surveyor is a type of Chartered Surveyor involved in all aspects of property and construction, from supervising large mixed-use developments to planning domestic extensions and diagnosing building pathologies. Building surveying is one of the widest areas of surveying practice. It has a varied workload and can include everything from the conservation and restoration of historic buildings to contemporary new developments.
The Nigerian Institution of Estate Surveyors and Valuers (NIESV) was founded in 1969 by the few qualified General Practice Chartered Surveyors who were mostly trained in the United Kingdom. The Institution was recognized by the Federal government of Nigeria by the enactment of the Estate Surveyors and Valuers ” Decree No. 24 of 1975.
Jonathan MannsMBE is a British New Zealander. A town planner and surveyor, he is a writer, speaker, educator and campaigner on built environment issues.
