Malcolm Rivera
The principle of progression is a concept that is applied in various fields, including real estate and fitness. In real estate, it refers to the idea that the value of a property can be influenced by the values of surrounding properties. This means that a high-value home in a neighbourhood with lower-value homes may experience a decrease in its perceived worth, a phenomenon known as regression. Conversely, a property's value can be positively impacted when located among homes of greater value, leading to a potential increase in its worth. This principle is essential for home buyers, sellers, and appraisers when determining the true value of a property in the current market. In the context of fitness, the principle of progression suggests that to improve, one should gradually increase the intensity, duration, or frequency of their workouts as their body adapts to the current level of stress. This approach ensures continuous improvement without overwhelming the body, allowing for safe progression towards more challenging routines.
| Characteristics | Values |
|---|---|
| Property value influenced by location | A home of greater value is worth more when located among homes of lesser value |
| Property value influenced by neighbouring property values | A home of lesser value is worth more when located among homes of greater value |
| Principle of progression in real estate | The value of a house is influenced by the values of other houses within its proximity |
| Progression in exercise plans | Gradually increasing the intensity, duration, or frequency of workouts as the body adapts |
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What You'll Learn
A home of greater value is worth more among homes of lesser value
The statement, "A home of greater value is worth more among homes of lesser value," exemplifies progression in the context of real estate and property values. This statement suggests that a house's worth can increase relative to its surroundings. Here are some paragraphs explaining this concept in detail:
The fundamental principle of progression is evident in the statement. Progression signifies a forward movement, advancement, or improvement. In this context, the value of a home can progress or increase due to the contrasting values of the surrounding homes. When a home is worth more relative to others, it gains a competitive edge in the market, attracting buyers seeking superior options.
The notion of relativity plays a pivotal role in understanding this concept. Value, in this context, is not an absolute or fixed entity. Instead, it is fluid and influenced by the surrounding environment. A home's value is not inherently high or low but is determined by comparing it to the values of neighboring residences. This relativity creates a hierarchy of value, with some homes being worth more than others due to their unique features, location, or other advantageous factors.
The statement also implies a potential cause-and-effect relationship. The presence of homes with lesser value can contribute to the increased worth of a particular home. This could be attributed to several factors, such as location within a desirable neighborhood, superior construction quality, or additional amenities that set it apart from the surrounding properties. These attributes can drive up the demand and, consequently, the value of the home in question.
Furthermore, this concept can be strategically leveraged by homeowners and real estate investors. Recognizing the potential for a home to possess greater value within a specific context can inform investment decisions. For instance, purchasing a property in an emerging neighborhood with predominantly lower-value homes can be a strategic move. Over time, as the area develops and the value of surrounding homes increases, the initial investment property can experience a significant boost in worth, leading to substantial returns.
In summary, the statement, "A home of greater value is worth more among homes of lesser value," exemplifies progression by illustrating how a home's value can advance relative to its surroundings. This relativity of value is influenced by various factors that create a hierarchy of desirability and worth. Understanding this concept can empower homeowners and investors to make strategic decisions, leveraging the potential for progression to maximize their returns.
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Progression in real estate valuation
The principle of progression in real estate valuation holds that the value of a house is influenced by the values of other houses within its proximity. In other words, a property's value can be positively influenced by its location in a neighbourhood with higher-value homes. This is because the higher value of neighbouring properties can enhance the perceived desirability and attractiveness of the home in question, potentially leading to an increase in its worth.
For example, a dated home located in a high-end luxury subdivision can be purchased for a price much lower than the local values. Because the home is located in a desirable area where property values are much higher than the subject property's value, the property increases in value, giving the owner a great return on their investment.
Real estate agents often advise prospective homeowners to buy the cheapest house in an area with expensive houses. This is because owning a home that is surrounded by high-valued properties increases the value of that home. This is known as the principle of progression.
The principle of progression can also be observed when a similar home in one neighbourhood appraises for a higher value than a comparable home in another neighbourhood. This can be due to various factors, such as the presence of newer homes, better security, aesthetics, schools, proximity to urban roads, recreation, shopping facilities, and public transportation. For instance, homes near Trader Joe's supermarkets tend to be valued higher than homes that are not nearby.
It is important to note that the principle of progression is contrasted with the principle of regression, which states that high-value houses can be negatively impacted and fetch lower costs when situated in a neighbourhood with low-value homes.
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The principle of regression
Real estate agents can also leverage the principle of regression to guide their clients in setting the right listing price. By analysing the values of nearby properties, agents can provide valuable insights to sellers, helping them attract potential buyers while maintaining the property's value.
By applying the principle of regression, real estate professionals can accurately assess a property's value and provide fair and accurate appraisals for buyers, sellers, and lenders. This understanding of the relationship between property values and their determinants enables stakeholders in the real estate ecosystem to make informed decisions, negotiate better deals, and develop optimal pricing strategies.
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The principle of substitution
- The cost approach: If a buyer can construct a home for less than the cost of an existing property, they will not pay more for the existing property.
- The sales comparison approach: If properties offer similar utility and are competitively priced, the property with the lower price will likely be in higher demand.
- The income capitalization approach: A tenant will likely choose a property that costs less but still delivers the same satisfaction and utility as a higher-priced rental property.
In summary, the principle of substitution is a fundamental concept in real estate that guides buyers, renters, and appraisers in their decision-making. It is based on the idea that a less expensive option that meets the desired criteria will always be preferred.
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The principle of progression in exercise plans
The principle of progression involves three components: progressive overload, specificity, and variation. Progressive overload is the key to muscle adaptation and continued progress. This involves increasing the overload on the body, or in other words, doing something harder than before so that the body can be stronger tomorrow. This overload can be increased frequency, intensity, time, weight, sets, reps, or a combination of these elements. For example, if you can lift a maximum of 100 pounds on the leg press, you would not want to increase the weight by more than 10% or 10 pounds each week to prevent injury. This is a gradual progression, taking small steps to achieve bigger results over time.
Specificity refers to the exercises being specific to the muscle or movement one wishes to improve. For instance, if one wants to improve their ability to pick up a growing child, they would choose exercises that mimic that movement, such as a squat with a medicine ball.
Variation is also important, as eventually, any routine will become less challenging as the body adapts. Therefore, it is necessary to vary the exercises to continue challenging the body and facilitate progression.
It is important to note that rest and recovery are crucial components of a progressive routine. After heavy strength-based workouts, for example, muscle groups need 48 hours of rest. This does not mean complete rest, as other muscle groups can be worked, and other forms of exercise like cardio, stretching, or mobility work can be done on these days.
Overall, the principle of progression in exercise plans is a safe and effective method to achieve fitness goals and avoid plateaus.
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Frequently asked questions
A home of greater value is worth more when located among homes of lesser value.
The principle of progression in real estate states that a property's value is positively influenced by the values of the properties around it.
A home of greater value situated among properties of lesser value may lead to a decrease in its perceived worth due to contrasting property values.
