Ratio of the value of futures contracts purchased or sold to the value of the cash commodity being hedged. The amount remaining after total operating expenses excluding interest payments are deducted from effective gross income. The lawful expulsion of an occupant from real property.

One who voluntarily binds himself to be obligated for the debt or obligation of another. The process by which a property's price is determined. The sum of quarterly income and appreciation returns.

Land having utilities, roads, or other improvements. Examples include capital expenditure accounts and deferred maintenance accounts. One who receives funds in the form of a loan with the obligation of repaying the loan in full with interest. The similarity of the types of loans included in a pool, usually defined by interest rate, loan term, and loan type. An abuse or destructive use of property by one in rightful possession such as an owner or tenant. The market value of total real estate after property-level debt is subtracted. The area of a property, measured in square feet, upon which rent can be collected.

One is a five year balloon and the other is a seven year balloon. Standards to ensure that housing maintenance and improvements are adequate for occupancy. An approach to developing a capitalization rate by creating a weighted average rate reflecting the percentage of value represented by each debt and ownership position. Permanent, immovable appliances or similar features. In secondary marketing, a situation in which one securities contract is priced relatively higher than another. Insurance carried by the homeowner to protect the dwelling against fire and other hazards. In some states, a form of general partnership with some of the features of a corporation.

Chief regulator of national banks, appointed by the President for a five year term. In commercial real estate, funds regularly set aside for the replacement of improvements. Option money that will be fully credited to the purchase price when the option is exercised. Open lines of credit which are subject to variable payments in accordance with the balance. The redevelopment or rehabilitation of property in an urban area. Generally, the price used to calculate internal rate of return. The last step in the appraisal process in which all data are compared and the approaches to value considered to arrive at a final estimate of value. Market for Registrant's Common Equity and Related Stockholder .