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GLOSSARY

Canadian Financial, Real Estate and Mortgage Glossary

How often this word is used
 
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38% - Moderately

Principle of Progression


Synonyms:principle of real estate progression, progression principle, real estate progression principle
Filed Under: real-estate
Tags: realty
 

Definition of principle of progression

principle of progression
1. The belief that the value of a smaller dwelling will increase if it is located among larger and more expensive dwellings.

Related Terms and Acronyms:

  • comparables   Refers to "comparable properties," which are used for comparative purposes in the appraisal process.
  • cul-de-sac (Cldsc, Culd)   A dead-end street, often with a broad circle at the end.
  • current market value (CMV)   The estimated price determined by the recent sale of similar properties.
  • fair market value (FMV)   The highest price that a buyer would pay for a property and the lowest price a seller is willing to accept.
  • market value (MV)   Also known as "Fair Market Value." The estimated value of a property which a seller could expect to receive under normal conditions.
  • principle of conformity   The notion that a house will fetch a fair price if it is situated among houses of similar size, style and condition.
  • principle of regression   The notion that the value of a larger or fancier house will be reduced if it is near smaller, lower-priced houses.
  • property value   The worth of a piece of real estate, based on the price a buyer and seller would negotiate.
  • seller's market   Due to either low supply or high demand, the seller can expect to sell quickly with a high sale price.

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