“ZMA – A Real Estate Developers A to Z | Part 3: E-F” is the third installment in a four-part series. This piece is preceded by “ZMA – A Real Estate Developers A to Z | Part 2: C-E” and “ZMA – A Real Estate Developers A to Z.” Please continue to visit BruceFogelson.com to learn other terms that all real estate professional should have in their vocabulary.
Real estate developers must carry around a collection of incredible real estate knowledge. Familiarity with construction and the ownership of this wisdom as it relates to reality allows them the ability to move through the market.
Read on to learn what other details real estate developers should master:
- Elevations: Elevation is a horizontal orthographic projection of a building onto a vertical plane, the vertical plane normally being parallel to one side of the building. Architects also use the word elevation as a synonym for façade, so the north elevation is literally the north-facing wall of the building.
- Emergencies: An unforeseen combination of circumstances or the resulting state that calls for immediate action.
- Employees: a person employed for wages or salary, especially at non-executive level.
- EPA: The United States Environmental Protection Agency is interpretive guidance for the Real Estate Community on the Requirements for Disclosure of Information Concerning Lead-based Paint in Housing.
- Excavation: The action of excavating something, especially an archaeological site.
- Extras: Stainless steel appliances, walk-in closets, and other extras that bring added value in the eyes of potential buyers.
- Fascia: A wooden board or other flat pieces of material such as that covering the ends of rafters.
- Feasibility Study: Market feasibility studies typically involve testing geographic locations for a real estate development project, and usually involve parcels of real estate land. Developers often conduct market studies to determine the best location within a jurisdiction, and to test alternative land uses for given parcels.
- Fencing: A fence is a structure that encloses an area, typically outdoors, and is usually constructed from posts that are connected by boards, wire, rails or netting.
- Fire Protection Systems: Fire protection refers to measures taken to prevent a fire from becoming destructive, reduce the impact of uncontrolled fire and save lives and property. It involves the implementation of safety planning practices and drills and includes education on fire, research, investigation, safety planning, building construction, safe operations, training and testing of mitigating systems.
- Fireplace: A recess, usually with a mantelpiece above it, built into the wall of a room as a place to light an open fire.
- Fixtures – Electrical: A light fixture or luminaire is an electrical device used to create artificial light by use of an electric lamp.
- Fixtures – Hardware: The physical aspect of a home, such as windows, drapery, locks, hinges, latches, handles, wire, chains, plumbing, tools, utensils, and machine parts.
- Fixtures – Plumbing: A plumbing fixture is an exchangeable device which can be connected to a plumbing system to deliver and drain water.
- Fixtures – Trade: A trade “fixture” is not real property, but personal property of the tenant. The landlord does have some protection. Any damage to the real property caused by the tenant’s removal of trade fixtures must be repaired or paid for by the tenant.
- Floor Area Ratio: Floor area ratio (FAR) is the ratio of a building’s total floor area (zoning floor area) to the size of the piece of land upon which it is built.
- Floor Plans: A scale diagram of the arrangement of rooms in one story of a building.
- Flooring – Carpet: A carpet is a textile floor covering typically consisting of an upper layer of pile attached to a backing.
- Flooring – Concrete: Polished concrete is concrete that has been treated with a chemical densifier and ground with progressively finer grinding tools. This is often used for flooring.
- Flooring – Tile: Tile flooring is a natural choice for kitchens. Tile is hard, durable, water-resistant and shrugs off stains.
- Flooring – Wood: A plumbing fixture is an exchangeable device which can be connected to a plumbing system to deliver and drain water.
- Flooring (All): The boards or other material of which a floor is made.
- Footings: A base (in or on the ground) that will support the structure. A base (in or on the ground) that will support the structure.
- Foundations: Foundations are usually stone or concrete structures that support a building from underneath.
These definitions are borrowed from Safeopedia, Forbes, Merriam Webster, and Yahoo Answer.