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The community property concept originated in civil law jurisdictions but is now also found in some common law jurisdictions. U.S. states with community property laws draw primarily from the marital property laws under the civil law of France and Spain. [10] Division of community property may take place by item by splitting all items or by values.
According to the Community Associations Institute, between 22 and 24 percent of the entire U.S. population in 2017 lived in community associations. The two leading states with CIDs are California, where around 9,327,000 people lived in a CID, and Florida, where about 9,753,000 lived in a Community Interest Development. [6]
The sales comparison approach (SCA) is a real estate appraisal valuation method that relies on the assumption that a matrix of attributes or significant features of a property drive its value. For examples, in the case of a single family residence, such attributes might be floor area, views, location, number of bathrooms, lot size, age of the ...
Real estate economics is the application of economic techniques to real estate markets. It aims to describe and predict economic patterns of supply and demand . The closely related field of housing economics is narrower in scope, concentrating on residential real estate markets, while the research on real estate trends focuses on the business ...
The income approach is a real estate appraisal valuation method. It is one of three major groups of methodologies, called valuation approaches , used by appraisers. It is particularly common in commercial real estate appraisal and in business appraisal.
In some jurisdictions, property is taxed based on its classification. Classification is the grouping of properties based on similar use. Examples of classification are residential, commercial, industrial, vacant, and blighted real property. Property classification are used to tax properties at different rates and for different public policy ...
Comparables (or comps) is a real estate appraisal term referring to properties with characteristics that are similar to a subject property whose value is being sought. This can be accomplished either by a real estate agent who attempts to establish the value of a potential client's home or property through market analysis or, by a licensed or certified appraiser or surveyor using more defined ...
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