Real Estate Terms N

A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

National Association of Realtors (NAR) - The governing body of all Realtors®.  Members must adhere to a strict code of ethics and standards of practice, ensuring to the public members integrity and professionalism.

Natural Vacancy Rate - The percentage of vacant properties in an area due to economic conditions and natural turnover.

Neighborhood Life Cycle - The evolution of a neighborhoods demographics and use over time.  Changes in population, zoning as well as economic forces effect a neighborhoods life cycle in some way.

Net Listing - A contract where the listing agent receives as commission all monies above a minimum sales price agreed to by the seller and the agent.

New England Colonial - Historical early American architectural style of a two story house with clapboard siding.

Non-conforming Use - Real estate that does not conform to the zoning of the area.  Usually happens when the zoning changes after a property is already in use.