comparative market analysis

Definition

The real estate agent's crystal ball that uses nearby home sales to predict what yours might sell for. It's part science, part art, and part wishful thinking depending on who's paying for it.

Example Usage

According to the comparative market analysis, your home is worth $450K, unless you're buying—then similar homes are somehow worth $500K.

Source: Real estate appraisal and sales practices

Related Terms

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mortgage broker

A middleman who shops your loan application to multiple lenders, theoretically saving you time and getting better rates. Sometimes actually does this.

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defeasance clause

A mortgage provision stating that the lender's title interest terminates once the loan is fully repaid. It's the legal version of 'when you pay me back, I promise to stop owning part of your house.'

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easement

A legal right allowing someone else to use part of your property for a specific purpose, like utility access or a driveway. It's basically permanent permission to trespass, enshrined in your deed.

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titles

The legal documentation proving ownership rights to a property, representing the bundle of rights you allegedly possess after signing approximately 847 pages at closing. A clear title means nobody else has claims, liens, or surprise ownership stakes in your new home. Title issues are the plot twist nobody wants in their real estate transaction—like discovering three ex-spouses also think they own your kitchen.

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Under Contract

The relationship status of a house that's been claimed but not yet closed, like being engaged but for property. Everyone holds their breath until closing, and there's always a chance someone gets cold feet.

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net rentable area

The actual square footage tenants can occupy and must pay for, excluding common areas, mechanical rooms, and structural elements. It's why your 'thousand square foot' office feels like eight hundred.

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