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
Certificate usually granted by a jurisdictions building department certifying a specified premise has satisfactorily complied with all zoning and building ordinances. This certification is ...
Real property usable in a trade or business. Such as, the property on a which retail store, hotel, or office building are located. ...
Two or more people have a legal duty that can be enforced against them by joint action, against all members, and against themselves as individuals. For example, a bank can require repayment ...
Also called functional depreciation. Loss of value that results from improvements that are inadequate, outdated, overly adequate, or improperly designed for today's needs. May be curable or ...
Generally, a nominee defines an individual or company whose name appears on securities or real estate. First and foremost, their purpose is to assist the progress of a particular ...
Standard language in real estate contracts and prospectuses-usually in small print. ...
Stiff pipe used to cover electrical wiring for safety purposes. ...
File of prospective real estate customers showing their address, telephone number, time and date of last contact, types of properties in which they are interested, and their financial ...
Authority given by a municipality to perform specified operations in a certain zoning area. Conditions are sometimes attached by the zoning group. An example is permission to have a ...
Have a question or comment?
We're here to help.