SHERRI RUSSELL - Broker / Owner

Real Estate Glossary
Our glossary is the largest dictionary of real estate and construction terms on the Internet with almost 10,000 definitions.

Ra - Ran - Re - Rec - Red - Ren - Rep - Ret - Ri - Ro - Ros
A counter voltage occurring in AC circuits causing power loss.
Reaction Flux
A paste used in soldering that reacts chemically with the metal being soldered when heat is applied.
Read Only Memory (ROM)
Permanent memory in a computer that can be repeatedly accessed but not changed.
  1. Concrete that has been mixed prior to delivery to a building site.
  2. Any material where all combined elements are combined at the factory.
Ready-mix Truck
A cement mixer. A truck designed to agitate ready-mix concrete en-route to the building site.
Ready, Willing and Able Buyer
Real estate term describing one who is capable of action and planning to do so. For example, having the financial ability and being agreeable to the terms of a contract.
Real Assets
Investments, that you can access and that can be held indefinitely or sold for a profit after appreciation.
Real Estate
Land and anything permanently affixed to it, such as buildings.
Real Estate Agent
Person licensed by a state to represent a buyer or seller in a real estate transaction in exchange for a commission. Agents must work in association with a real estate broker or brokerage company.
Real Estate Board
Local group of real estate brokers who are members of the State and National Board of Realtors. They meet regularly to help determine licensing requirements as well as managing the multiple listing service of their area.
Real Estate Broker
Person, corporation or partnership licensed by a state to represent a buyer or seller in a real estate transaction in exchange for a commission. Brokers supervise licensed real estate agents, who act for the broker, who is legally the principal agent in any transaction.
Real Estate Calculators
Calculators that have additional financial functions which includes present value, purchase price, property appreciation, lease costs, loan and mortgage amortization.
Real Estate Commission
The amount received by a real estate salesperson and agency upon sale of a property. Alternately, the agency that enforces real estate license laws.
Real Estate Counselor
Person who is paid to provide advice about real estate.
Real Estate Educators Associations
Professional organization composed of teachers of real estate in colleges and proprietary license preparation schools. Address: Real Estate Educators Association, 11 LaSalle Street, Suite 1400, Chicago, Illinois 60603-1210.
Real Estate Investment Trust (REIT)
Publicly traded company that owns, develops or operates commercial properties.
Real Estate Market
The current transaction activity by buyers and sellers, including markets for various properties, such as housing, condominium, land, office markets.
Real Estate Mortgage Investment Conduit (REMIC)
REMICs may be partnerships, corporations, trust, etc. and are used to hold a fixed pool of mortgages, which are then marketed as tax exempt mortgage backed securities for investors.
Real Estate Owned (REO)
Property acquired by a lender, through foreclosure, which is held as inventory.
Real Estate Property Tax
Local government taxes which are assessed on real estate.
Real Estate Settlement Procedures Act (RESPA)
Federal law designed to make sellers and buyers aware of settlement fees and other transaction related costs. It also outlaws kickbacks in the real estate business.
Real Estate Syndicate
Pool of investor money, which is used to purchase real estate.
Real Estate Valuation
Professional opinion of the market value of a home or property.
Real Income
Income for a certain period, adjusted for inflation.
Real Interest
Rate Interest rate adjusted for inflation.
Real Property
Land and anything permanently affixed to it, such as buildings.
Real Return on Investment
Return on an investment after adjustment for inflation.
Realized Gain
A gain that has occurred financially but isn't necessary taxable due to a tax-free exchange.
Realized Profit or Loss
Reported in the income statement for tax purposes, it's the taxable profit or loss resulting from a sale.
Member of the National Association of Real Estate Brokers, Inc.
Designation for an agent or broker who is a member of the National Association of Realtors and subscribes to a strict code of ethics.
Licensed salesperson, not a broker, who is a member of the National Association of Realtors.
Realtor-National Marketing Institute (RNMI)
An affiliate of the National Association of Realtors, which produces educational programs and literature for its member. Publications include, Real Estate Today and Real Estate Perspectives.
Land and anything permanently affixed to it, such as buildings.
To widen or smooth a hole.
A tool used to widen or smooth a hole.
Reappraisal Lease
Lease with a rental, which is a percentage of the appraised value, and is periodically adjusted after being reviewed by independent appraisers.
The revision or reappraisal of the value estimate of property, which may be for tax purposes or contract negotiations.
Steel bars that are placed in concrete to provide reinforcement. see reinforcing bar.
Rebar Ties
Wire used to connect lengths of rebar.
Refund, which resulted from an overpayment of tax, purchase price. Alternately, an amount given as an incentive to buy.
Rebuttable Presumption
Presumption that may be refuted by rebuttal evidence but is accepted until proven otherwise.

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Real Estate Glossary :::