May 04 , 2016

Tampa School of Real Estate

Overimprovement

Definition:  an addition or change to property not in line with its highest and best use, or a betterment that exceeds that justified by local conditions

Pronunciation:   \ˈō-vər-im-ˈprüv-mənt\

Used in a Sentence:   A $500,000 home in a neighborhood of $200,000 homes would be considered an overimprovement.

O