Prime Real Estate

Definition

A location so desirable that landlords charge you rent that exceeds your entire salary. Also applies to your browser's top-fold ad space.

Example Usage

That corner storefront is prime real estate in downtown Manhattan.

Source: Common real estate terminology

Related Terms

Intermediate

reverse mortgage

A loan that pays elderly homeowners monthly while they live in their home, essentially converting equity to cash until they die or move. Your house paying you rent, with a hefty price tag.

🏠 Real Estate

Advanced

appurtenant

A fancy legal term for 'stuff that comes with the property,' particularly easements that transfer with the land rather than staying with the owner. It's the real estate equivalent of 'batteries included,' except it's more like 'right-of-way for your neighbor to cross your lawn included.' Lawyers love using this word to make simple concepts sound sufficiently billable.

🏠 Real Estate

Beginner

PCM

Per Calendar Month—the rental industry's way of stating the bleeding obvious about monthly payments, because apparently 'monthly' wasn't clear enough. Commonly seen in real estate listings alongside other redundant acronyms designed to make basic concepts sound more professional. The 'ATM machine' of property jargon.

🏠 Real Estate

Intermediate

setback requirements

Zoning rules dictating the minimum distance a building must sit from property lines, streets, or other structures, preventing neighbors from building right up to your fence line. It's mandatory personal space for properties.

🏠 Real Estate

Beginner

appraise

To slap a monetary value on something, ideally by someone qualified to do so rather than your overly optimistic uncle. This formal evaluation process determines the worth of assets, employee performance, or really anything that can be judged and assigned a number. Real estate agents love this word because it sounds more professional than 'guessing what someone will pay.'

🏠 Real Estate

Beginner

penthouse

The apartment that sits on top of a building like a crown, usually inhabited by people who think elevators are for peasants. Originally just a shed attached to a building, it evolved into the ultimate flex in urban real estate—complete with panoramic views and price tags that require scientific notation. Because nothing says 'I've made it' like living where pigeons used to roost.

🏠 Real Estate

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