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There are 12 names in this directory beginning with the letter M.
Maintenance
The act of keeping, or the expenditure required to keep, an asset in condition to perform efficiently the service for which it is used.
Market Price
The price actually paid, or agreed in a contract to be paid, for an asset. It differs from market value in that it relates to an accomplished fact, whereas market value is and remains an estimate until proved. Market price may involve circumstances not normally included in market value.
Market Value
Market value is the estimated amount for which an asset should exchange on the date of valuation between a willing buyer and a willing seller in an arm’s length transaction after proper marketing, wherein the parties had each acted knowledgeably, prudently and without compulsion.
Mean Price
The mean price is the average price of all units in a specific suburb for that year. This is the total sum of all unit sale prices divided by the amount of units sold for that year.
Median
The middle number when data is arranged from lowest to the highest in sequence. If there are two median scores, they are averaged to provide the true median. The median is also known as the 50th percentile.
Median Price
“Median” means “in the middle”. So, with regard to List Price, this means exactly half of the homes are listed above this price and exactly half are listed below. For example: let’s say there are 5 homes for sales in a market at prices of $175,000, $200,000, $250,000, $350,000 and $600,000. The Median Price would be the one in the middle, or $250,000. Note that this is not the same as “average / mean price”.
Mediation
The process by which a third party assists two disputing parties to reach a mutually agreeable solution. A recommendation made by the mediator is not necessarily binding on the parties.
Mortgage
Documentation of a property loan. Security over real property to ensure payment of a debt or performance of an obligation.
Mortgage Guarantee Insurance
Paid by the borrower to protect the lender against failure by the borrower to keep up mortgage repayments or to pay back the loan in full when it is due.
Mortgagee
Financier who lends money against property as security.
Mortgagee Sale
Sale of a property where, in the case of a default of payments by the mortgagee, the mortgagor can sell the property over which the mortgage has been held.
Mortgagor
One who owns an interest in real estate and who executes a mortgage on that interest as security for a loan or for the advance of credit.