Appraisal Terms
Real estate appraisal, property valuation or land valuation is the practice of developing an opinion of the value of real property. No two properties are identical, and all properties differ from each other in their location.
Assemblage - combining of two or more adjoining properties into one tract
Plottage - added value that results from assemblage
Progression - principle that the value of an inferior property is enhanced by association with superior properties
Regression - principle that the value of a superior property is adversely affected by association with inferior properties
Situs - people's preferences for a certain areaInformation courtesy of Rowlett Real Estate School LLC. Captain Wayne Rowlett, Real Estate Trainer. Feel Free to visit our website at http://www.rowlettrealestateschool.com and check out our schedule of classroom and online real estate courses. Our Florida Real Estate School is fully accredited and State Approved. Rowlett Real Estate School provides live classroom real estate training in Panama City and in Destin Florida and provide affordable online real estate courses for most every state through our affiliate partners.
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