radiant heating
A form of home heating delivered by electric-resistance elements--either wall registers or cables or foils beneath the flooring or above the ceiling--or via hot water circulated through in-the-floor tubing or room radiators.

radiator
The room heating unit of a hot water or steam heating system.

radon
A ground-generated radioactive gas that seeps into some homes through sump pumps, cracks in the foundation and other inlets. A serious health hazard.

rafter
One of a series of beams that form the slope of a pitched roof and are analogous to floor joists.

rails
The horizontal structural members of a door. Most doors have a top rail, a bottom rail, and a center rail connected at both ends to vertical stiles.

rammed-earth construction
An alternative building process in which dirt is compacted into large structural frames to create walls.

ranch style
A modern style of home popularized in the 1950s and championed by architect Frank Lloyd Wright, among others.

random widths
The term used in describing flooring and wall boards or shingles of varying lengths.

rate cap
The maximum interest rate charge allowed on the monthly payment of an adjustable rate mortgage during an adjustment period.

rate lock
A commitment issued by a lender to a borrower or other mortgage originator guaranteeing a specified interest rate for a specified period of time at a specific cost.

rate type
Rate type determines if and how payments adjust over the loan term. Available rate types include fixed-rate, balloon, and adjustable-rate.

rate-improvement mortgage
A loan with a clause that entitles a borrower to a one-time interest rate cut without going through refinancing.

ready-mixed concrete
Concrete manufactured for delivery to the building site in a wet, unhardened state.

real estate
Land and anything permanently affixed to it, including buildings.

real estate agent
A person licensed to negotiate and transact the sale of real estate.

real estate broker
A person, corporation, or partnership licensed by a state to represent a buyer or seller in a real estate transaction in exchange for a commission. Brokers supervise licensed sales agents, who then act for the broker (who is legally the principal agent in any transaction).

real estate investment trust (REIT)
Publicly traded companies that own, develop, and operate commercial properties.

real estate professional
Any real estate broker, sales agent, or attorney who holds a real estate license.

Real Estate Settlement Procedures Act (RESPA)
A federal law designed to make sellers and buyers aware of settlement fees and other transaction-related costs. RESPA also outlaws kickbacks in the real estate business.

real property
Land and appurtenances, including anything of a permanent nature such as structures, trees, minerals, and the interest, benefits, and inherent rights thereof. 

Realtist
A designation for an agent or broker who is a member of the National Association of Real Estate Brokers.

Realtor®
A real estate agent, broker or an associate who holds active membership in a local real estate board that is affiliated with the National Association of Realtors. 

Reconveyance
The transfer of property back to the owner when a mortgage loan is fully repaid.

recorder
The public official who keeps records of transactions that affect real property in the area. Sometimes known as a "Registrar of Deeds" or "County Clerk."

recording
The noting in the registrar’s office of the details of a properly executed legal document, such as a deed, a mortgage note, a satisfaction of mortgage, or an extension of mortgage, thereby making it a part of the public record.

Recording Fee
Money paid to an agent for entering the sale of a property into the public records.

redlining
An illegal practice by a bank or insurance company that denies credit or insurance to people based on ethnic background or neighborhood. 

refinance transaction
The process of paying off one loan with the proceeds from a new loan using the same property as security.

register
The end of a duct for incoming or escaping air which is usually covered with grillwork.

regression
The principle that the value of a better-quality property is adversely affected by the proximity of a lesser-quality property.

Regulation Z
A federal code issued under the Truth in Lending Act that requires that a borrower be advised in writing of all costs associated with the credit portion of a financial transaction.

rehabilitation mortgage
A mortgage that provides for the costs of repairing and improving a resale home or building.

reinforced concrete
Concrete strengthened with wire or metal bars.

REIT (real estate investment trusts)
Publicly traded companies that own, develop, and operate commercial properties.

release clause
A provision in a purchase contract that allows a seller to continue marketing their home and accept other offers.

relocation benefits
Employer-provided benefits for new employees. These benefits can include moving costs, reimbursement for temporary housing and transportation, real estate agent assistance, and discounted loans.

relocation company
A firm that administers all aspects of relocating new employees from one location to another.

remaining balance
The amount of principal that has not yet been repaid. See principal balance. 

remaining term
The original amortization term minus the number of payments that have been applied.  

rent loss insurance
Insurance that protects a landlord against loss of rent or rental value due to fire or other casualty that renders the leased premises unavailable for use and as a result of which the tenant is excused from paying rent.

renter's insurance
A policy for renters that covers the replacement value of possessions.

repayment plan
An arrangement made to repay delinquent installments or advances. 

replacement cost
The current cost of rebuilding a structure to its original specifications.

replacement reserve fund
A fund set aside for replacement of common property in a condominium, PUD, or cooperative project -- particularly that which has a short life expectancy, such as carpeting, furniture, etc. 

repointing
Replacing damaged mortar in the joints between bricks or stones.

repossess
To take back property. A lender holding a mortgage may repossess a property if the buyer fails to make payments.

resale value
A property's future value, which can be affected by many factors including the surrounding neighborhood, school district scores, and economic and housing market conditions.

rescission
The cancellation of a contract by law or consent from the parties involved.

reserve fund
Money set aside by a homeowners' association for major repairs or improvements.

resilient channel
A channel run across wall studs underneath wallboard to reduce sound transmission.

RESPA
Real Estate Settlement Procedures Act. RESPA is a federal law that gives consumers the right to review information about loan settlement costs. The law gives you the right to review this information after you apply for a loan, and again at loan settlement. The law only obliges lenders to provide these settlement costs after application. 

restriction
Any limitation on the use of property. 

restructured loan
A mortgage in which new terms are negotiated.

return air duct
Ducts through which the cold air or return air passes on its way back to the heating unit. 

return on investment
The amount of profit a property generates.

reverse mortgage
A special type of loan available to equity-rich, older owners. Repayment is not necessary until the borrower sells the property.

revolving debt
A credit arrangement, such as a credit card, that allows a customer to borrow against a pre-approved line of credit when purchasing goods and services. The borrower is billed for the amount that is actually borrowed plus any interest due. 

ridge
The top horizontal edge or peak of a roof.

ridge board
A horizontal board that serves as the apex of the roof structure.

ridge pole
A thick longitudinal plank to which the ridge rafters of a roof are attached.

ridge vent
A vent located along the ridge board of the roof that allows moisture to escape.

right of first refusal
A provision in an agreement that requires the owner of a property to give another party the first opportunity to purchase or lease the property before he or she offers it for sale or lease to others. 

right of ingress or egress
The right to enter or leave designated premises. 

right of survivorship
In joint tenancy, the right of survivors to acquire the interest of a deceased joint tenant.

right of way
The right to pass over or use another's land.

Right to Rescission
Under the provisions of the Truth-in-Lending Act, the borrower's right, on certain kinds of loans, to cancel the loan within three days of signing a mortgage. 

riparian rights
An owner's right to use a river, stream, or lake bordering the owner's property. 

riser
Vertical boards between the steps of a stairway. 

rocker switch
An electrical switch operated by tapping the top or bottom of the control plate. 

rollback
A limitation on annual assessed value increases or a reduction in the amount of property tax paid. 

roll roofing
A roofing material, supplied in rolls, and made of compressed fibers saturated with asphalt. 

roof overhang
A roof extension beyond the endwall or sidewall of a building. 

roof sheathing
Flat boards nailed to the rafters to which a covering is fastened. 

rough floor
Rough floor boards on which the finished floor is laid. 

rough-in
The installation of plumbing, electrical, and other mechanical systems. 

Rural Housing Service
A U.S. Department of Agriculture program that provides financing to farmers and certain borrowers to purchase rural property when other funds are not available. 

RV pad
A large concrete pad designated for parking a recreational vehicle. 

R-value
A measure of a material's resistance to heat loss, usually applied to insulation products. The higher the R-value, the slower the rate of heat loss.