Definition of "Shakeout"
Decline in real estate values occurring during economic hardships such as depression or recession. The late 1980s and early 1990s experienced a depressed real estate market. Many office buildings remained totally, or almost totally vacant. One region of the country may be doing well while another is doing poorly. Further, it is possible that even though commercial real; estate values are declining, price of residential homes may be increasing, or vice versa. During a shakeout, huge losses may be experienced by real estate owners with some declaring bankruptcy.
Popular Real Estate Terms
The spouse's legal right, upon the death of his wife (or her husband), to a life estate in all lands she (or he) owned. ...
Ability of the size of the land to accommodate the desired economic purpose. An example is having enough space to build a supermarket to meet the needs of the community. ...
How one looks at things; opinion. An example is a prospective buyer of a house who considers the asking price to be a great deal. What something looks like at a distance. An example is ...
Number of housing units of a particular category that are available. ...
A property owner who lives in the property he also leases or rent to others. For example, John owns a two-family house. He lives in one side of the house and rents out the other side to the ...
(1) Individual or business that is engaged to do some sort of construction work for another for a fee. There are basically three types of contracting: A general contractor enters into a ...
The definition of obligee is the person to whom a debt or obligation is owed. An obligee is one party of a contract to who the other party, the obligor, is obligated. An obligee is also the ...
Land located next to water that has and will continue to experience water damage. The land generally is not suitable to build a structure on. In some cases, federal or local government may ...
One who sells real estate or other products. ...
Have a question or comment?
We're here to help.