Anneal
Process which improves the machineability of metals by heating and allowing them to cool slowly, which removes stress and softens the material.

Annexation
Legal process, which is used by a municipality to expand its territory to include part of an adjacent, unincorporated area. Also, the act of permanently attaching a fixture to a building, thus making it part of the structure.

Annual
Yearly occurrence

Annual Assessments
Valuation on property for purposes of taxation, sewer charges, etc.

Annual Cap
Amount the interest rate of an adjustable rate mortgage can be raised or lowered in any consecutive 12-month period.

Annual Debt Service
Total annual interest and principal loan payments required on a loan.

Annual Mortgage Constant
Ratio of annual mortgage payments divided by the initial principal of the mortgage and only applies to loans involving constant payment.

Annual Mortgagor Statement
Statement sent to borrower, on a yearly basis, detailing principal remaining on the loan and amounts paid toward interest and taxes.

Annual Percentage Rate (APR)
The rate a borrower actually pays, including interest, points and loan origination fees when expressed as a percentage rate per year. On an adjustable rate mortgage, assumption is made that the loan's index remains the same as its initial value.

Annual Percentage Yield (APY)
The real rate of interest on a loan, which is the coupon rate divided by the net proceeds of the loan. See Effective Interest Rate.

Annual Ring
Growth rings seen in the horizontal cross section of a tree.

Annuity
Fixed sums paid, at regular intervals, to an investor.

Annuity Due
Annuity where the payments are made at the beginning of the period, either monthly, quarterly or yearly.

Annuity Factor
Factor used to determine the equal periodic payment; yearly, monthly, etc. associated with a real estate transaction. It is used for both a present value of annuity of future value of annuity.

Annul
To eliminate, invalidate cancel, abolish or make null and void, as though it had never existed.

Annular
Ring shaped.

Annular Bit
Hollow cylinder shaped drill bit used to cut plugs of wood

Annular Nail
Nail with raised rings, for better gripping ability, forged into the circumference of the shank. Used in construction for framing lumber.

Annulus
Space left in a container over the surface of the contents.

Annunciator
Something that announces. Indicator which is used to show when a condition occurs.

Anode
The positively charged electrode toward which current flows.

Anta
A pier or square column at the end of a wall.

Ante
Prefix meaning in front of something or coming before.

Antechamber
A smaller room leading into a larger or main room. Waiting area.

Antefix
Small, decorative fixture that is attached on the eaves of the roof of a building to hide the ends of the tiles.

Antemion
Ornamental palm leaf pattern.

Antependium
Screen or veil decorating the front of an alter.

Anterior
Coming before in time, order or development. Situated toward the front.

Anteroom
A smaller room leading into a larger or main room. Waiting area.

Ante-solarium
Balcony that faces the sun.

Anthracite
Shiny black, compact, hard coal which gives much heat but little flame and smoke.

Anthropometry
Science dealing with studying measurements of the human body to determine differences in individuals or groups; used to determine the proper sizing and proportions of objects to be used by people.

Anti
Prefix meaning against something or opposite of something.

Anticatalyst
Substance that slows down a chemical reaction. Opposite of a catalyst, which hastens a chemical reaction.

Anticipated Holding Period
Time period one expects to own property as an investment.

Anticipatory Breach
Communication (usually by letter) informing one party, by the other party, that the terms of the original contract will not be fulfilled.

Anticlinal
Inclined in opposite directions. Alternately, formation of stratified rocks sloping downward from each side of a ridge.

Antifouling
Material used to prevent marine growth on ship bottoms or diving apparatus.

Antifreeze
Substance with a lower freezing point than water added to a liquid in a cooling system, such as an automobile, to prevent freezing.

Anti-Kickback
Assembly Device, consisting of teeth on hinged pawls, used to prevent the kickback of wood being cut by a power saw, by allowing the wood to be pushed in one direction but not allowing it to move in the opposite direction.

Antimagnetic
Material that resists magnetism.

Antimony
Metal, which is sometimes added as an alloying agent to increase hardness in tin or lead. The atomic symbol is SB, atomic number is 51 and the atomic weight is 121.75. A one percent combination with lead is used to sheath electric cables and a ratio of six to seven percent to make the plates in lead-acid batteries.

Antioxidant
Substance that slows down the oxidation of oils, fats, etc. to retard deterioration.

Antioxidant Compound
A substance used to seal and promote conduction by application to aluminum wiring connections.

Antique
Oil used as a wood finish to preserve wood and to impart a sheen, this blend of drying oil and plastic in a vehicle such as mineral spirits is also sometimes used to stain wood.

Antiquing
Overlaying, on a base color, of a semi-opaque color, which is then partially wiped away giving an antique appearance. Application of a certain coating to a ceramic unit then firing it in a kiln to form a hard surface. Alternately, installation of glass.

Anti-Siphon
Preventive device for the back-flow of liquid into a system. Used in sprinkler systems to prevent water from trickling back into the water supply that is feeding it originally.

Anvil
Iron or steel block on which metal objects are hammered into shape. Tapered on one end to a near point, it is rounded to provide a shaping surface with a flat top.

Anzac Siding
Tapered bevel siding.

APA
see American Planning Association and American Plywood Association.

Apartment
Unit of one or more rooms within a multifamily complex of similar units.

Apartment Building
A structure with individual apartment units and a common entrance and hallway.

Apartment House
Multi-family housing complex of rental apartments managed by the property owner or a resident manager.

APA Sturd-I-Wall
Trade name for APA 303 plywood panel building siding, which can be used as exterior siding by being applied directly to building studs.

Aperture
Opening, hole, gap. The opening in a camera or telescope, which allows light into the lens.

Apex
The highest point of interest, as in a structure.

Apex Stone
Stone at the top of a gable or dome, triangular in shape.

Apophyge
Concave curve where the end of a column expands to spread into its base.

Apothem
Perpendicular line from the center of a regular polygon to any one of its sides.

Apparatus
Instruments, tools materials, etc. needed to perform a specific task.

Apparent Power
Calculated and theoretical power (watts) in an alternating current circuit. Apparent power is often grater than the actual power in a circuit because there are losses in the circuit due to the effect of reactance in the circuit. The reactance opposes the flow of AC current, using up some of the power.

Appearance
Form, facade, attractiveness, curb appeal of a property. Pleasing, more attractive looking property is likely to allow the seller to of real estate to obtain a better price in a shorter selling period.

Appearance Lumber
Lumber divided into industrial, architectural and premium grades, the quality of this lumber is based on its finished appearance.

Appellant
A taxpayer or representative who appeals to a higher authority.

Appendage
An attachment to a an object or addition to a structure.

Appliance
Device or machine for performing a specific task, such as a mechanical or electromechanical device used for heating, cooking, cleaning or cooling.

Application
Generally refers to a form or forms submitted to obtain some type of acceptance or service. Commonly refers to forms and documentation submitted to obtain a mortgage loan, in which instance the information provided details the income, debts and obligations of a potential borrower.

Application Fee
Fees paid to the lender at the time of application for a loan. It may include charges for a credit report, property appraisal, etc.

Applicator
Device used for spreading a substance.

Applique
A decoration made of one material and attached to another as ornamental trim.

Apply
To put to a practical or specific use. To spread on a surface.

Apportionment
Division or assignment based on a plan or proportion as in prorating property expenses such as insurance and taxes between the buyer and seller.

Apportionment Clause
Contractual provision requiring apportionment.

Appraisal
Market value of a property or home (real estate) as supplied by a third party, usually a licensed professional.

Appraisal Approach
There are three basic methods of valuing property. (a) The replacement value of property. (b) Comparable sales approach, comparing properties with similar properties. (c) Interest Income that a property will return to the investor. Also known as appraisal method.

Appraisal of Damage
Usually done by a professional appraiser or the insurance industry, this is an assessment of property loss, taking into account the quality, quantity and age of a property.

Appraisal Fee
The fee, charged by a licensed professional, to estimate the market value of a piece of real estate.

Appraisal Institute
A profesional organization for licensed real estate appraisers.

Appraisal Method
There are three basic methods of valuing property. (a) The replacement value of property. (b) Comparable sales approach, comparing properties with similar properties. (c) Interest Income that a property will return to the investor. Also known as appraisal approach.

Appraisal Report
The detailed written report that shows the value of a property, based on recent comparable sales, in the area. It also includes a description of the property and structures, street address, zoning allowed, assessed valuation and taxes, best use for the property and information about the appraiser.

Appraised Value
Professional opinion of the market value of a home or property.

Appraiser
The licensed profession permitted to do appraisals and appear as an expert witness in a court of law regarding the evaluating process as well as giving testimony concerning real estate and market value.

Appreciation
Increase in the value of real estate over a period of time. Expression of gratitude.

Apprentice
Someone who is working under the supervision of an experienced craftsman to learn a craft or trade.

Approval
A confirmation of an amount able to be borrowed by an individual, based upon assessment of his ability to repay said loan. Alternatively, an authorization obtained from governmental authorities for a building project to proceed.

Approved
Term used to indicate that a particular installation has been found to be in line with regulations, such as the building code, by a governing body. Also refers to a building project that has received all regulatory authorization required for construction to proceed.

Approximate
More or less correct or exact.

Approximate Compound Yield
Measure of the annualized compound growth of a real estate investment.

Appurtenance
Item which is part of something else and goes with a property and is also covered by the deed.

Appurtenant Structure
Structure not belonging to a property but considered a part of it through the use of an easement of common interest.

APR (Annual Percentage Rate)
Measurement of interest rate that expresses the cost of a mortgage as a yearly rate on the loan balance, assuming that the loan is held for its full term. On an adjustable rate mortgage, assumption is made that the loan's index remains the same as its initial value.

Apron
A paved area, usually between a driveway and a street. Horizontal piece of trim beneath a window sill. Covering worn to hold tools and protect clothing. Panel behind a sink or lavatory. The front of a bathtub from the rim to the floor.

Apron Piece
Horizontal beam, also referred to as the pitching piece, which supports the upper end of a stair carriage or stringer.

Apron Wall
Panel wall section between the window sill and the base of the wall.

Apse
Semicircular or polygonal projection of a building, at the east end of a church with a domed or vaulted roof.

Aquastat
A thermostat that is submerged in water and is used to control the operation of a specific device.

Aqueduct
Large pipe or conduit made for bringing water from a distant source.

Aqueous
Containing water. Formed by the action of water.