Nails in load-bearing parts of new homes that pop out slightly because of settling of the structure.
Needs-based pricing
A seller's asking price that is based on factors such as the required funds to pay off the mortgage, the cost of remodeling or the purchase of another house.
Negative amortization
The situation occurs when a borrower's monthly payment is not large enough to cover both the principal and interest of a loan. As a result, the outstanding balance of the loan actually grows larger with each payment rather than smaller. Most fixed rate loans are not subject to negative amortization, but many adjustable rate mortgages are susceptible.
Negative-slope driveway
A driveway that drops from street level to the garage.
Neo-traditional planning,
Planning of a community that favors the return of new-home development with such traditional features grid-street patterns, prominent front porches, backyard garages, multi-use buildings and housing clustered near commercial service areas.
Net cash flow
Investment property that generates income after expenses such as principal, interest, taxes and insurance are subtracted.
Net worth
The worth of a person or company based on the difference between total assets and liabilities.
New Urbanism
A community design philosophy that favors the return of new-home development with such traditional features as prominent front porches, backyard garages, multiuse buildings and housing clustered near commercial service areas.
Niche
A small recessed area in a wall, traditionally arched at the top.
NIMBY (Not In My Back Yard)
The response sometimes given by neighborhoods and communities to proposed changes or development.
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