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R

RAM reverse annuity mortgage.


RANCH HOUSE originally a low, rambling, one-story house typical of the western United States; now used to describe almost any one-story house.


RANGE LINES lines parallel to a principal meridian, marking off the land into 6-rnile strips known as ranges; they are numbered east or west of a principal meridian in the Government Rectangular Survey


RATE OF INTEREST same as interest rate.


RATE OF RETURN the percentage relationship between the earnings and the cost of an investment.


RATE OF RETURN OF INVESTMENT same as recapture rate.


RAW LAND acreage with no added improvements, such as landscaping, drainage, streets, utilities, and structures.


READY, WILLING, AND ABLE capable of an action and disposed to act


REAL ESTATE 1. In law, land and everything more or less attached to it. Ownership below to the center of the earth and above to the heavens


REAL ESTATE COMMISSION state agency that enforces real estate license laws.


REAL ESTATE EDUCATORS ASSOCIATION a professional organization primarily composed of persons who teach real estate in junior colleges and proprietary license preparation schools.


REAL ESTATE INVESTMENT TRUST (REIT) a real estate mutual fund, allowed by income tax laws to avoid the corporate income tax. It sells shares of ownership and must invest in real estate or mortgages. It must meet certain other requirements, including minimum number of shareholders, widely dispersed ownership, asset and income tests.


REAL ESTATE MARKET the potential buyers and sellers of real property at the current time, and the current transaction activity for real property. It includes markets for various property types, such as housing market, office market, condominium market, land market.