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Term
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Definition
| an intermediary who brings together buyers and sellers, assists in negotiating agreements between them, executes their orders, and receives compensation for services rendered |
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| the time between conception of the idea for a development project and its completion and entry into the available supply |
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| movable items such as cars, clothing, books, and so on |
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| land and structures that are attached to it (physical) |
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| the legal interests associated with the ownership of real estate (ownership/use) |
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| the number of units capable of being absorbed by the market over a given time period |
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| the market for capital assets of all types |
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| designed to serve an area within a 3- to 5-mile radius with a wider variety of merchandise than a neighborhood center (discount or junior store) |
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| the amount or quantity of the good or service that will be desired at various prices |
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| when the price negotiated between demanders and suppliers results in the quantity of the good or service offered by suppliers equaling the quantity of the good or service as desired by the demanders |
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| a retail building not located in a shopping center |
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| the total number of units or square footage absorbed by the market in a specified period of time |
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| that use, found to be legally permissible, physically possible, and financially feasible, that results in the highest land value; that use of land most likely to result in the greatest long-term economic return to the owner |
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| market situation where any increase or decrease in the price of a good or service does not result in a corresponding increase or decrease in its supply |
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| set of circumstances and arrangement through which buyers and sellers exchange goods and services |
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Definition
| vacant space + space in construction/net absorption per month |
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Definition
| the number of months required to absorb the current supply |
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| Neighborhood Center (Convenience Center) |
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Definition
| a shopping center intended to serve customers from a specific geographic area (1.5 mile radius, 2500-40,000 people); supermarket |
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| the amount of space rented to tenants or sold to buyers after taking into considering space vacate by tenants or owners |
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| the market in which ownership of investment properties is traded between buyers and sellers; transactions involving cash-flow rights to real estate |
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| a shopping center that contains between 300,000 and 750,000 square feet in gross leasable area and contains at least one full-line department store |
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Definition
| a shopping center that exceeds 750,000 square feet of gross leasable area and includes at least 3 department stores (50 mile radius) |
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Definition
| the amount or quantity of the good or service that will be offered at various prices |
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| the percentage of units vacant in a property |
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| a model of urban growth patterns based on transportation routes |
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| theoretical relationship between distance and land rent; refers to the maximum rent that a potential real estate space user would be willing to pay, or “bid”, for a specified location |
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| the advantage one locale has over another because of transportation facilities, created environment, natural resources, or its labor force |
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| a model of urban growth patterns based on concentric zones surrounding a central business district |
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| employment in industries that bring income into a region from beyond its borders |
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| Export Activities (basic) |
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Definition
| activities that produce goods and services for sale or consumption outside an area's borders |
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| the passage of housing to less affluent families as the housing ages |
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| the process of neighborhood rehabilitation causing value to rise dramatically as it becomes a desirable location |
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| fess charges to developers to raise funds for expansion on public facilities needed as a result of the new development |
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| a method of city growth where open spaces between structures are filled in with new structures |
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| investment in public facilities such as roads, schools, etc. |
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| the return that a parcel of land will bring in the open market |
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| a model of urban growth patterns that emphasizes more than one center of commercial activity |
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| a geographic area containing complementary land uses in which property values tend to move together |
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| Market interest rate unadjusted to reflect the erosion of the purchasing power due to inflation |
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| Population-Serving Activities (non-basic) |
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Definition
| activities that produce goods and services for sale or consumption within an area's border |
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Definition
| Interest rate adjusted for the expected erosion of the purchasing power due to inflation, computed by deducting the expected rate of inflation from the nominal (market) interest rate |
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| a model of urban growth in which types of development tend to extend outward in wedge-shaped sections from the center of the city |
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| In securities underwriting, attempt by an underwriter and/or issuer to create an active market for a security to prevent a fall in its price below the initial offered price, from the time of its registration to the time of its sale to the public |
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| Urban and Regional Economies |
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| the study of the economics of urban and regional growth |
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| involve transactions for the rights to use land and buildings |
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