Financial independence may sound like a fool’s errand in today’s highly cut-throat real estate marketplace. But the reality is that it’s possible for anyone to achieve it – even if someone is neck deep in debt. Regardless of your current financial woes, there’s always a way to start over. The barriers to entry in the…
Debt exclusion is a temporary tax increase on properties, usually imposed for 10 to 20 years. This tax increase is used to pay for debt service costs or to finance a community construction project. Such municipal plans include building new schools, buying advanced equipment for hospitals, and other projects offering municipal services. Moreover, you should…
The real estate market has been drastically affected by the COVID-19 pandemic. However, gap closings continue to be used in commercial real estate transactions and are likely to be used soon. They’ve already had a rather long tenure in the real estate industry and are predicted only to grow further. They’re deemed a commercial real…
AMA stands for all measurements approximate REO – real estate owned. It simply means that the real estate is owned by the bank due to foreclosure. As one of the lesser-used abbreviations in real estate, you will seldom see it written in listings. An agent typically uses it for real estate marketing purposes. When a…
Real estate is a property consisting of land and improvements. We frequently hear about monuments in our daily lives. However, real estate law defines these special landmarks differently. The legal definition of a monument in real estate According to the Tampa School of Real Estate, “a visible marker, either a natural or artificial object, set…
Real estate abbreviations are often a bit tricky. Most people find them written in descriptions under a listing and don’t know what to make of them. One such abbreviation is “OSE,” which you will find has several meanings. A quick search online will reveal that these three letters are used in biochemistry and its Latin…
A straight note in real estate is a type of loan agreement where you are required to pay only interest during the note’s term. Once the term ends, the entire balance of the debt is supposed to be paid in a single balloon payment. Types of notes in real estate When a borrower signs the…
In terms of real estate, HLA stands for “Heated Living Area.” However, the abbreviation is open to several other interpretations such as: High-level architecture Home location area Housing land availability Human leukocyte antigen and much more Typically, a living area is also referred to as “heated square footage” or “heated living area,” and it’s a…
Real estate demand and supply curve keeps shifting, and at times, there is an oversupply of properties available as compared to the number of available buyers. As a seller, the last thing you want is your property to increase the number of days it spends on the market, thereby lowering your chances of establishing a…
Assemblage is a unique development strategy that can significantly benefit both the seller and the buyer. The process of combining of two or more lots to form a larger lot is called assemblage in real estate. The parcels that are combined and sold bring in a larger number, in comparison to the parcels sold separately….