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Return Of Three Minute Real Estate: Situs

By William J. Archambault, Jr.

Services for Real Estate Pros with The Real Estate Investment Institute 1retiredsage

December 18, 2011 10:31 AM

Return Of Three Minute Real Estate: Situs.

Short videos promoting a common understanding of real estate fostering real estate education and a greater understanding one word at a time.

Real estate has it’s own jargon, it’s own colloquialisms, both industrially, locally, with-in individual offices and often unique to individual agents. Hopefully together we can promote a common understanding, one word at a time.

I’m not an attorney. I’m a retired Banker, REALTOR®, Real Estate Developer, Mortgage Broker, Mortgage Banker. Real Estate and Mortgage Instructor and Author. I’ve been in lending and real estate since 1969 and teaching it since 1974. These Videos are unscripted and represent my opinions.

I’m available as a Trainer and Instructor through The Real Estate Investment Institute, reii.org, wja@reii,org, Preferred 832-582-8415 702-516-1569 Cell 832-259-7078

　Today’s word: Situs

The series:

http://activerain.com/blogsview/2590825/return-of-three-minute-real-estate-equityReturn Of Three Minute Real Estate: Hypothecation

Return Of Three Minute Real Estate: Umbrella Policy.

Return Of Three Minute Real Estate: Legal Description

Return Of Three Minute Real Estate: Survey

Return Of Three Minute Real Estate: Rental/Renter’s Insurance

Return Of Three Minute Real Estate: Non-Owner-Occupied Insurance

Return Of Three Minute Real Estate: Flood Insurance

Return Of Three Minute Real Estate: Home Owner’s Insurance

Return Of Three Minute Real Estate: Personal Property Insurance

Return Of Three Minute Real Estate: Libility Insurance

Return Of Three Minute Real Estate: Thanks Giving 2011

Return Of Three Minute Real Estate: Mortgage

Return Of Three Minute Real Estate: Title

Return Of Three Minute Real Estate: Contingency

Return Of Three Minute Real Estate: Communicate

Return Of Three Minute Real Estate: Agency Contract/Agreement

Return Of Three Minute Real Estate: Fiduciary

Return Of Three Minute Real Estate: Agency

Return Of Three Minute Real Estate Leverage.

Return Of Three Minute Real Estate Appraisal

Return Of Three Minute Real Estate Value

Return Of Three Minute Real Estate Liquidity

Return Of Three Minute Real Estate Equity

Return Of Three Minute Real Estate APR

Return Of Three Minute Real Estate Amortization

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George Souto

George Souto NMLS #65149 FHA, CHFA, VA Mortgages - Middletown, CT

Your Connecticut Mortgage Expert

Bill this is the first time that I have heard the term "Situs" so this was new information for me.

Dec 18, 2011 01:18 PM

William J. Archambault, Jr.

The Real Estate Investment Institute - Houston, TX

George,

It's an old word, but it is used.

I've seen it used most offen by advanced appraisers.

I like to use it in my classes because of the shock value of the deffintion "It's the non-homogeneity of land" witch simply means there are no two spots alike. Once their shock passes they think, that and understanding are what I want. Life is an open book exam logical thinkers are much more important than experts!

It's also a very specify, very concise word! Words have meanings if we were to talk about "location" we envision all the adjourning lots, location is generic "situs" is always unique! Always.

In Michigan it appears twice in the preamble to the real estate license law and on some of the real estate examps.

Bill

Dec 18, 2011 02:04 PM

Return Of Three Minute Real Estate: Situs

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William J. Archambault, Jr.

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