Effective year built is an appraisal term indicating the age of a property based on its condition and utility rather than its actual construction date. It reflects updates and renovations that reduce functional obsolescence. This metric is crucial for lenders and insurers when assessing property value.
Vacant land refers to a parcel of real property that contains no buildings, structures, or significant improvements. It may be raw, undeveloped land or previously used land that has been cleared. The term is commonly used in real estate, property tax assessment, and urban planning contexts.
In real estate, ‘subject to’ refers to a transaction where a buyer acquires a property while the existing mortgage remains in the seller’s name. The buyer takes over the payment obligations without officially assuming the loan from the lender.
A basement on piers refers to a structural foundation system where vertical columns support the building load instead of continuous walls. This method is often utilized in areas with expansive soils or high flood risks to ensure stability. It differs from standard slab or full basement constructions.
Perking land is a colloquial term used in real estate and construction. It refers to the process of conducting a percolation test to assess soil absorption. This determines if the land can support a septic system.
Build-to-suit (BTS) is a commercial real estate transaction where a developer constructs a building tailored to a specific tenant’s requirements. The tenant typically signs a long-term lease before construction begins, ensuring the facility meets their exact operational needs.
The “Coming Soon” label on Zillow signals that a property has been entered into the system but is not yet officially on the market. It allows sellers and agents to preview the listing, generate early interest, and manage timing before full public exposure.
An active adult community is a residential development designed for adults, typically aged 55 and older, that emphasizes a lifestyle centered on recreation, social engagement, and low-maintenance living. These communities often provide shared amenities such as fitness centers, clubs, and organized activities, while offering a range of housing options.
On Zillow rental listings, the “Contacts” number indicates how many prospective renters have sent a direct inquiry through the platform. It helps landlords gauge interest but does not disclose personal contact details.
Unimproved land is a parcel that has not been developed or altered by human activity, lacking buildings, roads, or utilities. It remains in a natural or undeveloped state and is often used for agriculture, conservation, or future development.