Real estate is often considered synonymous with the 'real property'. Real Estate, is real property consisting of land, anything permanently affixed to the land (i.e., buildings), property, sometimes owned; any tangible or intangible possession and those things attached to the buildings(including such things as fixtures, window coverings, built-in appliances, etc.) that is owned by someone. and the the term 'land' is on which real estate is located. on "Real Estate" was derived from "royal estate", real meaning royal in the Spanish. A more modern US term is realty. A person dealing in the real estate is usually called real estate agent; those United Estate real
estate agents who are members of the National Association of Realtors call themselves Realtors. Real estate today is very very different from just a few years ago.
Prices are often much cheaper than most areas of the U.S., but in many locations, prices of houses and lots are as expensive as the U.S., one example being Mexico City.
U.S. banks have begun to give home loans for properties in Mexico, but, so far, not for other Latin American countries.
One important difference from the United States is that each country has rules regarding where foreigners can buy. For example, in Mexico, foreigners cannot buy
land or homes within 50 km (31 mi) of the coast or 100 km (62 mi) from a border unless they hold title in a Mexican Corporation or a Fideicomiso (a Mexican trust).
[6] In Honduras, however, they may buy beach front property directly in their name. There are different rules regarding certain types of property: ejidal land –
communally held farm property – can only be sold after a lengthy entitlement process, but that does not prevent them from being offered for sale.
Real estate can be divided into the several categories. With the exception of residental real estate, all other forms are generally used for investment purposes:
- Single Family Homes
-Town Homes
-Condos
-Office Buildings
- Shopping & Strip Malls
-Industrial & Storage
- Agriculture
- Raw Undeveloped Land
Auction
A way of marketing to the highest bidder. Bids are taken verbally or simultaneously through mail or telegrams, and the property is sold to the highest bidder. Auctioning
real estate may require both an auctioneer's license and a real estate license. For example, Land in Iowa, since it is relatively homeogeneous, lends itself to auction sales where it is sold to the highest verbal bidders. Another example, Fannie Mae, aggres to buy mortgages once a week via an auction. Mortgage sellers state the
price or yield they want, and Fannie Mae accepts the highest yields offered.
Bid
A sale in which buyers make bids (offers) and the highest offer is accepted. It's a price a prospective buyers is ready to pay. Term is used by traders who make a market
(maintain firm bid and offer prices) in a given security by standing ready to buy or sell round lots at publically quoted prices and by the specialist in a stock, who performs
a similiar function on an exchange.
- tender offer in a takeover attempt.
- any offer to buy a specified price.
Dutch auction
Auction system in which the price of an item is gradually lowered until it meets a responsive bid and is sold. The first bid is the winning bid and results in a sale,
assuming that the price is above the reserve price. This is in contrast to typical options, where the price as bidders compete. U.S. Treasury uses a Dutch auction
to sell the securites. the Dutch auction also provides an alternativ building process to IPO pricing. Contrasting is the two-sided or double auction system exemplified
by the major stock exchanges.
Multiple Listing Service
the MLS, or Multiple Listing Service is a database of properties for sale. The MLS database is a searchable and it allows to real estate agent to search for properties
according to zip code, square footage, price, number of bedrooms and other features, such as conditioning. Each home listed in the MLS number to set it apart from the other
listing. According to the listing service database is restricted to those who have an approved, active membership. although the database is not typically open to the
general public, some agents and real estate companies do make the information contained in the MLS available to their clients who are in the market for property.
Listing a home on the Real estate Multiple Listing Service with an MLS number can increase the chances of selling a home much easier and much faster than simply
listing the property with a real estate agent or selling a home for sale by owner.
Foreclosure
Foreclosure is where the bank takes possession of the property because of non-payment for a long period of time or an unapproved short sale. If you missed a few payments
and your house goes into the foreclosure but all hope is not lost. The most important thing you need to do so is to remain in touch with the bank at all times. No matter
how annoying the lender is or how many times you have to repeat your story to the bank, you must continue to the bank. If you missed a few payment on your mortgage
and bank received a notice of default, tell the bank about the reason of why have missed the payments. And if you tell them you want to keep your home and catch up
on the payments you missed. Foreclosure process can take from six months to a year to complete. If you go through Bank of America foreclosure, then the bank is willing
to work with you if you want to save your home from foreclosure. The best way to avoid a foreclosure with the bank is to pay your mortgage payment every month.
Bank of America does not want to own your home or take it from you. Foreclosure and bank-owned is the essentially mean the
same thing- the bank ownes the property and they want to sell it.
An REO is bank-owned property, when comes go into foreclosure they are sold at a trustee sale, if no one purchases it at the trustee sale, they become REO properties. Later
they are often listed by the Realtors hired by the bank.
commercial Real Estate in USA
commercial real estate in USA real estate is any Income-producing property. commercial real estate is commonly thought of as shopping centres,office buildings,
medical centers, farm land, and hotels. In the broadest definition, it includes apartment, complexes, educational buildings and industrial real estate. It is not residental real estate, which is property
used to live in.
