What does "predominant" mean?

[PhiloFarnsworth]

How do you define predominant, as in seller concessions? If all things were equal would a market where concession were predominant be virtually 100%? How about 70%? Can concessions be typical, yet not predominant?

 

[residentialguy]

Virtually all.... almost entirely...For all intents and purposes - 99.9%

IOW, adjust for concessions. The seller is not selling it for 200k when he's giving 12k cash to the buyer. Money exchanged from buyer to seller for that property is $188k cash equiv.

 

[Sid Holderly]

Concessions are predominant when more than 50% of the sales have concessions. A typical concession is one that is common (3% of closing costs). In my area concessions are not predominant. Often, if you look at the MLS price changes, the price goes up just before the sale when a concession is used,especially large ones.

 

[residentialguy]

Concessions are predominant when more than 50% of the sales have concessions. A typical concession is one that is common (3% of closing costs). In my area concessions are not predominant. Often, if you look at the MLS price changes, the price goes up just before the sale when a concession is used,especially large ones.

Predominance in light of concessions in the definition of market value is not based upon 50% or more. The only time they are not to be adjusted is when they are present in virtually ALL sales transactions.

"Predominant" is not a term used in market value and the association with concessions. You should be adjusting for that 3%.

 

[VolcanoLvr]

According to my dictionary, 'predominant' means "superior in ... number." So that implies the percentage of X is influenced by the increased numbers of X.

If I were you (OP), I would not use the word 'predominant' in describing Concessions if at all possible.

You could just say that 'concessions are used frequently.' Sometimes simple words are easier for the reader to understand and comprehend.

 

[Elliott]

Predominant....less than substantial, more than median....might be mode, surely not average.

 

[Mike Garrett RAA]

Oh brother! And the next blind man felt the elephant's tusk and said..."elephant's are hard" So is this topic. Predominant ... most? More than half? Certainly not "nearly all".

 

[residentialguy]

I think OP mistook "predominant" with "virtually all"

Predominant is not a descriptive of concessions.

 

[PhiloFarnsworth]

OK, so what does "prevalent" mean?

 

[Terrel L. Shields]

OK, so what does "prevalent" mean?

you ask too many questions

Typical, predominant, prevalent, ...subjective terms which have obtuse meanings. Doest it mean the MAJORITY? A PLURALITY? If owner financing is 20% of sales, is that "prevalent" or "uncommon"? And if the bank sells a property and finances it, is it "bank-financing"? or "Owner-financing"...? both? Why does the Porridge bird lay its eggs in the air? (sorry about that Firesign Theater) .... pffft... I think we broke the President...