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Flipping. In finance, flipping is a term used to describe purchasing an asset and quickly reselling (or "flipping") it for profit. Within the real estate industry, the term is used by investors to describe the process of buying, rehabbing, and selling properties for profit. In 2017, 207,088 houses or condos were flipped in the US, an 11-year ...
The term blockbusting might have originated in Chicago, Illinois, where real estate companies and building developers used agents provocateurs. These were non-white people hired to deceive the white residents of a neighborhood into believing that black people were moving into their neighborhood.
Real estate agent. Lawn signs advertising houses for sale. Real estate agents and real estate brokers are people who represents sellers or buyers of real estate or real property. While a broker may work independently, an agent usually works under a licensed broker to represent clients. [1]
The Appraisal Institute defines highest and best use as follows: The reasonably probable and legal use of vacant land or an improved property that is physically possible, appropriately supported, financially feasible, and that results in the highest value. The four criteria the highest and best use must meet are legal permissibility, physical ...
Urban Dictionary is a crowdsourced English-language online dictionary for slang words and phrases. The website was founded in 1999 by Aaron Peckham. Originally, Urban Dictionary was intended as a dictionary of slang or cultural words and phrases, not typically found in standard English dictionaries, but it is now used to define any word, event, or phrase (including sexually explicit content).
Real estate and the environment. Real estate can be valued or devalued based on the amount of environmental degradation that has occurred. Environmental degradation can cause extreme health and safety risks. There is a growing demand for the use of site assessments (ESAs) when valuing a property for both private and commercial real estate.
Slumlord. A slumlord (or slum landlord) is a slang term for a landlord, generally an absentee landlord with more than one property, who attempts to maximize profit by minimizing spending on property maintenance, and to tenants that they can intimidate. Severe housing shortages allow slumlords to charge higher rents, and when they can get away ...
Multiple listing service. A multiple listing service ( MLS, also multiple listing system or multiple listings service) is an organization with a suite of services that real estate brokers use to establish contractual offers of cooperation and compensation (among brokers) and accumulate and disseminate information to enable appraisals.