overimprovement

overimprovement

Erecting improvements at prices that are out of proportion to the land value or to the area. Each market will have its own rules of thumb regarding ideal ratios of land cost to improvement construction costs.

References in periodicals archive ?
We expect a negative coefficient [[beta].sub.2], indicating that the overimprovement in mortality rates of annuitants decreases over time.
The term appraisers have for that is ''overimprovement.''
Or because the kitchen may represent an overimprovement (superadequacy), functional obsolescence should be considered.
Even homeowners who benefited from a runup in house prices can still regret overimprovement. In 1977, David and Carolyn McCalla bought a rambling '60s-style four-bedroom ranch house in a stable Miami suburb for 69,000.
The term "discretionary" refers to lavish landscaping, steel I beams as floor joists in residential construction, and other cases of extra or overimprovement. "Discretionary" implies something greater than what is needed for functional or economic utility purposes or to cure obsolescence of any kind.