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Wednesday, August 24, 2011

Real State Glossary

Appraiser
An individual qualified by education, training, and experience to estimate the value of real property and personal property. Although some appraisers work directly for mortgage lenders, most are independent.

The increase in the value of a property due to changes in market conditions, inflation, or other causes.

The valuation placed on property by a public tax assessor for purposes of taxation.

The placing of a value on property for the purpose of taxation.