VACANCY RATE
The current percentage of vacant properties in a given area, regardless of why they are vacant.

VA MORTGAGE
A mortgage that is guaranteed by the Department of Veterans Affairs (VA).

VARIANCE
An exception to municipal zoning regulations granted for a specific time period to allow for non-conforming use of the land.

VENT PIPE
A pipe allowing gas to escape.

VESTED
Having the right to use a portion of a fund such as an IRA. Typically vesting occurs over time. If you are 100% vested, you have a right to 100% of the fund.

VETERANS AFFAIRS, DEPARTMENT OF (VA)
The successor to the Veteran's Administration, this government agency is responsible for ensuring the rights and welfare of our nation's veterans and their dependents. Among other duties, the VA insures home loans made to veterans.

VOLTAGE
An expression of electric force, or pressure. One volt being the force needed to move one amp against one ohm resistance.

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Real Estate Definitions