Real Estate Glossary
Our glossary is the largest dictionary of real estate and construction terms on the Internet with almost 10,000 definitions.
- Mobile Home
- Pre-manufactured structure, often constructed of metal, that is designed to be transported to a site and semi-permanently attached.
- Mobile Home Park
- Site where mobile homes are located in a subdivision of plots designed for these homes as mandated by municipal zoning laws. They provide necessary utilities and often include recreational facilities.
- Moveable or able to be moved.
- Ability to be fluid.
- Rapidly or easily changeable.
- Model built to scale for display or study.
- Mod 24
- Framing system which uses 24 inch centers instead of 16-inch centers. The joists, studs and rafters are aligned into a series of modules or in-line frames. Racking stability is aided by plywood or fiberboard sheathing. Structural member alignment provides in-line transfer of structural loads through a direct and strong path, saving in labor and material costs.
- A small copy of an existing object.
- A preliminary representation of something.
- A pattern.
- Model Furnishings
- Interior furnishing included in a model unit, which are chosen to highlight the features of the model unit to show it to its best advantage.
- Model Unit (Home)
- A representative home, apartment, or office space used as part of a sales campaign to demonstrate the design, structure and appearance of units in a development.
- Modern Georgian Architecture
- Modeled after the English Georgian style, this architecture is a perfectly scaled grand symmetrical structure, which is extremely formal and conventional in style.
- To upgrade a facility by installing up-to-date equipment, making contemporary cosmetic improvements, and deleting obsolete facilities.
- Change in the terms of an agreement.
- An alteration to a building.
- Modified Accelerated Cost Recovery System (macrs)
- Term given to two depreciation systems defined by the Internal Revenue Service. The primary system is called the General Depreciation System (GDS). Under GDS, most property is assigned to eight property classes based on their class lives. These property classes provide the recovery period to be used by establishing the number of years over which the basis of an item in a class is recovered. The Alternative Depreciation System (ADS) generally provides for a longer recovery period and uses only the straight line method of depreciation to figure the tax deduction. Both systems establish conventions determining how many months property can be depreciated in the first year it is placed in service and in the year of disposition.
Examples of Property Classes:
- 20-year property. This class includes property such as farm buildings.
- Residential rental property. This class is comprised of rental buildings or structures (including mobile homes) for which 80% or more of the gross rental income is derived from dwelling units. It excludes hotels and motels. Residential rental property is depreciated over 27.5 years.
- Nonresidential real property. This class includes real property that is not residential rental property. This property is depreciated over 31.5 years.
- Modified Annual Percentage Rate (APR)
- An index of loan cost based on the standard APR but adjusted for the time the borrower expects to hold the loan.
- Modified Bitumen
- Asphalt compound made more water resistant and durable with the addition of polymers. Applied as a water resistant coating for types of roofing or as a preservative coating on wood.
- Modified Epoxy Emulsion Mortar
- Ceramic tile, thin-set, non-chemical resistant mortar that contains emulsion epoxy resins and hardeners, which are water resistant and cure rapidly.
- To change or alter, slightly or partially.
- To limit or regulate.
- An ornamental block or bracket placed under a projecting cornice for support.
- Units of standardized size or design, which can be arranged or fitted together in a variety of ways.
- Modular Housing
- Dwelling units constructed from components prefabricated in a factory and erected on the site.
- Modular Masonry Unit
- Concrete block that has named, not actual dimensions equal to the masonry unit size as manufactured plus one mortar joint thickness.
- Any of a set of units designed to be arranged or joined in a variety of ways.
- A detachable section or unit with a specific purpose.
- A compact assembly working as a component of a larger unit.
- Any of several standardized units used in the construction of building materials.
- Numerical value, which represents the physical property of a material, used in calculation or structural computations, and represents the reaction of a material under certain conditions.
- Modulus of Elasticity
- Ratio of stress applied to a material with relation to the deformation amount that results from the application of that stress to the material. The ability of the material, once the stress is removed, to recover its original shape.
- Slightly wet. Damp.
- Suggesting the presence of liquid.
- Atmosphere with high humidity.
- Water or other liquid causing a slight wetness or dampness.
- Moisture Barrier
- A layer of foil, plastic or paper used in the construction of exterior walls, ceilings and foundations to prevent moisture penetration into wooden members or insulation.
- Moisture Content
- Measure of the amount of moisture held in any substance. S-Dry lumber has a moisture content of 19 per cent or less. S-Green lumber has a moisture content of more than 19 per cent.
- Moisture Density Curve
- Graph showing the soil moisture content as compared to the density of the soil that can be achieved with that moisture content. Moisture content of the soil is important to the amount of compaction possible. The ability to support a load is increased by the density of the soil, which is achieved through compaction.
- Moisture Proofing
- Application of an asphalt content barrier on the outside wall of a basement so that water is not absorbed into the concrete.
- Moisture Resistant Panels
- Dry wall panels, also known as water-resistant panels or greenboard, which have water-resistant compounds added to the gypsum core and covered with water resistant paper so they are usable in areas such a bathrooms, where moisture is present. Fiberglass mesh tape is just on the joints and then they are sealed with water-resistant joint compound.
- Moisture Vapor Transmission
- Using perms to measure the amount of water vapor able to pass through a material. Perm = one grain of water vapor per square foot, per hour, per inch of mercury pressure differential (0.491 psid).
Fax: (541) 929-3548
405 Landmark Dr
Philomath OR 97370
Fax: (541) 929-3548
405 Landmark Dr
Philomath OR 97370
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