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Real Estate & Mortgage Terms

89 cards · 🇺🇸 English

Core real estate vocabulary plus mortgages and financing terms.

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Real estate

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  1. 1Real estate
    Property consisting of land and the buildings on it, along with natural resources such as crops, minerals, water, and wild animals
  2. 2real property vs personal property
    Real property is permanently attached to land, while personal property is not permanently attached (vehicles, boats, jewelry, furniture, tools)
  3. 3Estate
    The 'interest' a person has in land property
  4. 4Fannie Mae and when was it established
    A government agency established in 1938 to serve as a secondary market for mortgages and give lenders more money for new home funding
  5. 5Fair Housing Act
    Title VIII of the Civil Rights Act (1968) that dealt with incorporation of African Americans into neighborhoods and addressed discrimination in renting, buying, and financing homes
  6. 6Residential real estate
    Property containing either a single family or multifamily structure available for occupation or for non-business purposes
  7. 7What percentage of U.S. homes are owner-occupied?
    65% (as of 2021, according to Congressional Research Service)
  8. 8Apartment or flat
    An individual unit in a multi-unit building, with boundaries generally defined by locked doors, often in multi-story buildings
  9. 9Multi-family house
    Multi-story detached buildings where each floor is a separate apartment or unit
  10. 10Terraced house
    Also known as townhouse or rowhouse - a number of single or multi-unit buildings in a continuous row with shared walls and no intervening space
  11. 11Condominium
    A building or complex similar to apartments, but owned by individuals, with common grounds and areas owned and shared jointly
  12. 12Housing cooperative (co-op)
    Multiple ownership where residents own shares in a cooperative corporation that owns the property, giving each resident the right to occupy a specific unit
  13. 13Tenement
    A building shared by multiple dwellings, typically with flats on each floor and shared entrance stairway access (found in Britain)
  14. 14Duplex
    Two residential units with one shared wall
  15. 15Detached house
    A single-family home that stands alone and doesn't share walls with other dwellings
  16. 16Bungalow
    A low-rise, detached dwelling, typically single-story or with a second story built into a sloping roof
  17. 17Mobile home
    A full-time residence that can be movable on wheels, also known as tiny homes or residential caravans
  18. 18Houseboat
    A floating home
  19. 19Environmental degradation in real estate
    Deterioration of the environment that can cause extreme health and safety risks, affecting property value
  20. 20Phase I Environmental Site Assessment (ESA)
    An examination of environmental factors when valuing property for both private and commercial real estate
  21. 21Green development
    A concept examining social and environmental impacts with real estate and building, focusing on environmental responsiveness, resource efficiency, and cultural sensitivity
  22. 22LEED
    Leadership in Energy and Environmental Design - a green building certification program focusing on sustainable design and construction
  23. 23Real estate development
    Planning and coordinating of housebuilding, real estate construction or renovation projects
  24. 24Flipping in real estate
    Quickly reselling a property, sometimes taking advantage of arbitrage or rising value, often after repairs that substantially raise the property's value
  25. 25How is luxury real estate sometimes used?
    As a way to store value by wealthy foreigners, protect assets from seizure, or launder money without necessarily renting it out
  26. 26Three categories of real estate investment by financial risk
    Core, value-added, and opportunistic
  27. 27Hedonic regression in real estate
    A method showing that real estate value tends to depreciate with age
  28. 28Real estate agent
    A professional who assists clients in buying, selling, or renting property (North American term)
  29. 29Estate agent
    British equivalent of a real estate agent
  30. 30Commercial real estate
    Buildings or land intended to generate a profit through business operations or rental income

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