Needle File 
A small metal file used when working on locks, timepieces, or other precision instruments. 

Needle-nose Pliers
Pliers with a tapered end that comes to a point. 

Needle Valve 
A valve, used in HVAC systems, with a stem that tapers to a point. 

Needs-based Pricing 
Asking price based on the amount of funds required to pay off the seller's mortgage, the cost of remodeling or the purchase of another house. 

Negative Amortization 
When the outstanding balance of a loan grows larger because each monthly payment is too small to cover both the principal and interest of that loan. This sometimes happens with adjustable rate mortgages. 

Negative Cash Flow 
When operating expenses exceed income and an owner must make a financial contribution. 

Negative Charge 
1. A minus electrical charge. 
2. An electrical charge equal to that of an electron. 

Negative Leverage 
When borrowed funds cost more than they produce.

Negative-slope Driveway
Driveway that goes downward from the street level to the garage. 

Negotiable 
Able to be changed through discussions and modifications. Alternately, something that is legally transferred to another by endorsement or proper delivery. 

Negotiable Instrument 
A promise to pay money, transferable from one person to another. 

Negotiate 
1. To bargain or attempt to reach an agreement through discussion.
2. To travel over difficult ground. 

Negotiation 
The process of bargaining that precedes an agreement.

Neighborhood 
A district or locality characterized by similar or compatible land uses, often with a major street for shopping or restaurants. 

Neighborhood Life Cycle 
A generalized pattern that describes the physical and social changes that residential area experience over time. This life cycle includes the phases of birth, early growth, maturity and decline. Neighborhoods decline for several reasons including the physical aging and deterioration of the building structures, as well as the aging of the population. Architectural obsolescence makes these neighborhoods less attractive and the intrusion of business or industrial area detract from the overall quality. 

Neoprene
Oil-resistant synthetic rubber product that is used to make coverings where resistance to petroleum products is needed. 

Net
1. An amount that remains after a calculation where deductions are taken. 
2. Commonly used to refer to profit from a venture after all expenses are deducted. 

Net Cash Flow
Income from investment property after expenses (principal, interest, taxes and insurance) are deducted. 

Net Floor Area 
Usable floor area after deducting stairs, walls, and similar features. 

Net Income 
The amount remaining when expenses are deducted from gross income. 

Net Income Multiplier 
A factor representing a property's value as a multiple of net operating income. For example, a property with a market value of $1,000,000 and a net operating income of $100,000 has a net income multiplier of 10. 

Net Leasable Area 
Floor space in a building that is actually under lease and able to be rented to tenants. Non-leasable area includes hallways, building foyers, areas devoted to utilities, elevators, etc. 

Net Lease 
Also referred to as a triple net lease, the lessee pays not only a fixed rental charge but also expenses on the rented property, including maintenance. 

Net Listing
Listing agreement where the broker's commission is an amount above a net price set by the owner. If that price is not met, a commission is not earned. 

Net Long-term Gain 
In taxation, the excess of total long-term gains minus total long-term losses on the sale of real estate. Long-term classification is for real estate held one year or more and is reported on Schedule D of Form 1040 (for sole proprietors) or Form 1120 (for corporations). 

Net Loss 
The excess of total expenses over rental revenue for a real estate business. 

Net Operating Income (NOI) 
Income from property or business after operating expenses have been deducted, but before deducting income taxes and financing expenses (interest and principal payments). 

Net Present Value (NPV)
Method of determining whether expected performance of a proposed investment promises to be adequate. The difference between the present value of cash inflows generated by real estate and the amount of the initial investment. The present value of future cash flows is computed using the cost of capital (minimum desired rate of return, or hurdle rate) as the discount rate. 

Net Proceeds 
Amounts received from the sale or disposal of real property less all relevant deductions (direct costs associated with the sale or disposal). 

Net Realizable Value 
Expected selling price of property minus costs to sell. Net amount received upon sale. Gross receivables less allowance for doubtful accounts, representing the expected collectibility of those receivables. 

Net Worth 
Total worth of a person or entity once the liabilities are deducted from the assets.
Individual: Total assets less total liabilities less estimated taxes bring you to the person's personal equity, which is normally the basis upon which a loan is given. 
Corporation: Total assets less total liabilities equal to stockholders' equity. 

Net Yield 
The return on an investment after subtracting all expenses. 

Neutral
1. Devoid of electrical charge.
2. Neither acid nor base. 
3. Non-reactive. 
4. A party without bias in a dispute. 

Neutral Conductor 
The wire in a two-wire AC electrical system that carries the return current. 

Neutralize 
1. To form a neutral PH by adding acid to base or base to acid in the correct quantities.
2. To render a threat or hazard impotent. 

Newel 
Also called a Newel Post. A post, located at the top, bottom, and landings of a staircase, that supports the railing. 

Newel Cap 
An ornament attached to the top of a newel. 

Newel Post 
See Newel. 

New England Colonial 
Early-American style, 2 ½ story, box-like house that is usually symmetrical, square or rectangular with side or rear wings. The traditional material is narrow clapboard siding. The roof is usually the gable type covered with shingles. It is often referred to as a Saltbox Colonial. 

New England Farm House
A simple box-shaped house with clapboard siding and a gable roof. 

New Town 
A large mixed-use development designed to provide residences, general shopping, services, recreation and employment. Typically, near a metropolitan location, it can enjoy the associated amenities