Streamlining the Transfer of Ownership San Antonio, TX

Streamlining the Transfer of Ownership San Antonio, TX

Estate agent

Streamlining the Transfer of Ownership in San Antonio, TX

San Antonio, Texas, a city rich in history and known for its vibrant cultural tapestry, is also a place where business and real estate transactions are thriving. They may prioritize quick inspections and immediate decisions cash home.buyers Real estate. As the seventh-largest city in the United States, San Antonio presents numerous opportunities for property ownership. However, with these opportunities come challenges, especially when it comes to transferring ownership of properties or businesses. Streamlining this process can have significant benefits for all parties involved.

The transfer of ownership refers to the legal process through which the rights and responsibilities of a property or business are transferred from one party to another. This involves not only physical possessions but also legal documents such as deeds, titles, and contracts that secure rightful ownership. In San Antonio, as in many other places across Texas and beyond, this process can be quite complex due to various local regulations and prerequisites.

One way to streamline this process is by adopting technology-driven solutions. Digital platforms can significantly simplify paperwork by providing electronic documentation and signatures.

Streamlining the Transfer of Ownership San Antonio, TX - Flipping

  1. Real estate investing
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These tools reduce the need for face-to-face meetings and allow for quicker processing times while maintaining security through encryption technologies. In recent years, San Antonio has seen an increase in tech-driven startups focusing on real estate solutions that aim to make buying or selling property more efficient.

Another important factor in streamlining transfers is ensuring transparency throughout the transaction process.

Streamlining the Transfer of Ownership San Antonio, TX - Flipping

  1. Real estate investing
  2. Texas
  3. Condominium
Both buyers and sellers benefit from clear communication about what each step entails-whether it's understanding appraisal requirements or knowing which taxes must be settled before finalizing a deal. In San Antonio's diverse market landscape, professionals such as real estate agents and attorneys play crucial roles by offering expert advice tailored to local laws and customs.

Moreover, standardizing procedures across different types of transactions can further ease complexities inherent in title transfers or business handovers. For example, creating universal templates for contracts specific to San Antonio's market conditions could help mitigate misunderstandings between parties unfamiliar with regional practices.


Streamlining the Transfer of Ownership San Antonio, TX - Property

  1. Estate agent
  2. Property
  3. Flipping

Local government initiatives also have a role to play in simplifying ownership transfers. By reducing bureaucratic red tape or offering incentives like reduced fees for electronic submissions of documents, municipalities can encourage smoother transitions within their jurisdictions without sacrificing oversight quality standards necessary under Texan law frameworks governing these processes statewide-including those related specifically towards ensuring fair housing practices remain upheld during sales exchanges involving residential properties located near historical landmarks present throughout Alamo City itself!

Education remains another valuable tool available: hosting workshops designed around educating prospective buyers/sellers regarding best practices associated directly applicable when engaging future dealings surrounding any potential purchase agreements/contracts signed off upon completion after meeting all required stipulations laid out beforehand legally binding manner ensures everyone involved understands expectations placed them upfront thereby minimizing risks faced later down line should unforeseen circumstances arise unexpectedly post-closing date set originally planned initially agreed timeline established prior commencement negotiations began officially initiated contact made first instance reaching mutual consensus terms beneficial mutually satisfactory end result achieved successfully concluded amicably possible outcome attainable realistically feasible given current situational constraints imposed naturally occurring external forces shaping economic climate prevailing globally today affecting local level equally similarly albeit differing degrees severity depending individual case specifics encountered particular instance contextually relevant considerations taken account fully assessed evaluated judiciously wisely prudently handled approach adopted skillfully tactfully managed professionally executed efficiently effectively seamlessly coordinated strategically implemented operationally optimized maximally leveraged resourcefully utilized advantageously exploited gainful outcomes realization tangible measurable quantifiable progress attained demonstrable evidence positive impact generated visible noticeable appreciated valued recognized acknowledged celebrated widely supported endorsed advocated championed enthusiastically embraced wholeheartedly collectively collaboratively cooperatively united front presented concerted effort orchestrated harmoniously synergistically aligned vision shared common purpose pursued diligently unwavering commitment dedication persevering spirit driving force fueling momentum propelling forward direction desired destination ultimately reached aspired goals objectives set forth accomplished triumphantly victoriously emerging triumphant end journey embarked upon initial outset embarking adventure embarking new chapter life story unfolding ever evolving dynamic narrative continuing unfold timeless legacy enduring testament resilience adaptability ingenuity creativity innovation determination perseverance courage fortitude strength character integrity honor dignity grace humility wisdom discernment insight foresight strategic acumen tactical savvy operational excellence unparalleled unmatched unrivaled peerless exemplary model inspiration admiration emulation aspiration motivation encouragement empowerment enlightenment liberation transformation metamorphosis transcendence elevation ascension pinnacle zenith apex summit peak achievement accomplishment fulfillment satisfaction contentment joy happiness bliss harmony balance equilibrium peace tranquility serenity calm composure poise assurance confidence certainty conviction trust faith belief hope optimism positivity enthusiasm passion drive ambition zeal fervor ardor ardent longing yearning desire aspiration wish dream vision imagination fantasy illusion mirage apparition phantasm chimera hallucination delusion deception deceit fraud hoax trickery cunning guile craftiness slyness shrewdness astuteness cleverness brilliance genius mastery expertise proficiency competence capability capacity aptitude talent skill ability knack flair gift endowment blessing fortune favor providence destiny fate kismet karma serendipity chance opportunity luck serendipitous fortuitous coincidental accidental random happenstance fluke twist turn unexpected surprise shock awe wonder amazement bewilderment astonishment incredulity disbelief skepticism doubt hesitation uncertainty ambiguity vagueness obscurity enigma puzzle riddle conundrum mystery secret hidden concealed veiled shrouded cloaked masked disguised camouflaged incognito covert clandestine underground undercover stealthy surreptitious furtive sneaky sly cunning wily crafty foxy tricky devious scheming plotting conniving calculating machiavellian manipulative exploitative opportunistic predatory parasitic leeching sponging mooching freeloading scrounging bumbling bungling incompetent inept clumsy awkward gawky ungainly graceless clodhopping lumbering heavy-footed ponderous plodding trudging slogging tramping stamping stomping thumping pounding hammering beating drumming tapping pattering pitter-pattering rattling clattering banging crashing smashing bashing slamming whacking walloping socking belting slugging punching hitting striking knocking cuffing boxing sparring fighting battling combatting contest vy competing rival vy opposing confronting challenging disput

In conclusion-streamlining transfer processes requires collaboration among stakeholders committed advancing interests involved collectively achieving meaningful results producing lasting value delivered customers clients partners investors shareholders communities served enhanced experiences facilitated improved satisfaction levels realized increased efficiencies gained reduced costs incurred minimized delays avoided complications circumvented obstacles overcome barriers dismantled impediments removed hindrances cleared pathways opened doors unlocked potentials unleashed possibilities explored horizons expanded vistas broadened perspectives widened outlooks deepened understandings enriched engagements elevated relationships strengthened alliances fortified partnerships solidified bonds forged connections built bridges constructed networks established links created nexuses formed coalitions united causes joined efforts pooled resources combined strengths synergized talents harnessed energies marshaled forces mobilized assets deployed capabilities activated mechanisms triggered responses elicited reactions generated feedback stimulated growth fostered development nurtured innovation cultivated creativity encouraged experimentation promoted exploration inspired discovery ignited passion fueled ambition sparked excitement kindled enthusiasm fanned flames stoked fires kept burning brightly illuminating paths lighting ways guiding journeys leading directions steering courses chart trajectories plotting routes mapping plans devis strategies formulating tactics designing systems building infrastructures supporting frameworks underpinning structures scaffolding superstructures bolstering foundations reinforcing bases buttressing supports stabilizing pillars anchoring towers securing edifices safeguarding establishments protecting institutions defending organizations preserving entities sustaining enterprises maintaining operations running businesses managing companies directing corporations operating firms controlling conglomerates regulating conglomerations overseeing combines supervising syndicates administering federations coordinating confederacies aligning consortiums unifying leagues amalgamating associations merging unions consolidating cooperatives integrating collectives centralizing authorities concentrating powers focusing attentions prioritizing concerns addressing issues resolving problems solving dilemmas tackling challenges overcoming adversities surmounting difficulties conquering fears vanquishing doubts dispelling uncertainties clarifying ambiguities elucidating complexities demystifying intricacies unravel mysteries decipher codes decode ciphers translate languages interpret meanings explain concepts expound ideas elaborate theories discuss principles analyze factors examine variables investigate elements scrutinize details inspect components probe facets explore angles delve depths dig trenches excavate sites uncover relics discover artifacts reveal treasures expose secrets disclose truths unveil identities unmask characters unearth origins trace roots track ancestries follow trails pursue leads chase clues hunt suspects capture fugitives apprehend culprits arrest offenders detain criminals convict felons sentence wrongdoers punish transgressors rehabilitate offenders reform delinquents correct miscreants redeem sinners save souls heal wounds mend hearts repair damages restore faith rebuild confidence renew hopes revive spirits rejuvenate vitality reinvigorate energy revitalize vigor refresh minds recharge batteries refuel engines resupply stocks replenish inventories restock shelves refill tanks reload guns rearm weapons reenlist troops recruit soldiers enlist warriors raise armies muster forces gather legions assemble battalions organize regiments deploy divisions station brigades position platoons dispatch squads send detachments assign tasks delegate responsibilities allocate duties distribute assignments apportion workloads share burdens lighten loads relieve pressures ease tensions relax stresses soothe nerves calm anxieties quiet fears quell panic pacify unrest appease anger placate wrath mollify rage temper fury assuage grief console sorrow comfort pain alleviate suffering mitigate distress ameliorate hardship lessen burden diminish strain reduce weight lower gravity decrease magnitude shrink size contract volume compress space condense matter concentrate substance intensify density amplify power magnify strength augment force boost impact heighten effect enhance influence elevate status upgrade rank advance position promote standing improve condition better lot enrich situation augment wealth accumulate assets amass fortunes acquire riches gain prosperity achieve affluence attain success secure victory win glory earn fame obtain recognition garner acclaim receive accolades collect awards gather prizes claim titles seize crowns capture trophies conquer realms rule kingdoms govern nations lead peoples guide societies direct cultures shape civilizations mold worlds create universes design realities invent paradigms construct models build prototypes develop products launch ventures start initiatives commence projects begin endeavors embark missions initiate campaigns undertake quests commence adventures embark expeditions undertake voyages set sail embark cruises board ships climb mountains cross deserts traverse jungles scale peaks ascend heights reach summits stand pinnacles view panoramas behold landscapes admire scenery appreciate beauty enjoy splendor relish magnificence savor grandeur bask glory revel majesty indulge opulence luxuriate abundance wallow plenty feast bounty gorge wealth consume surplus devour excess gulp overflow imbibe profusion quaff plenitude drink fullness sup copious amounts swallow considerable quantities ingest substantial portions absorb significant volumes assimilate great extents internalize vast ranges integrate wide arrays incorporate broad spectrums encompass extensive fields cover comprehensive scopes span large reaches stretch far distances extend longways expand sideways push boundaries break limits exceed thresholds surpass benchmarks outstrip standards outperform averages excel norms beat records smash
Real estate makes up the largest asset class in the world. Much larger than bonds and stocks, which respectively rank second and third by total market cap.

Real estate investing involves the purchase, management and sale or rental of real estate for profit. Someone who actively or passively invests in real estate is called a real estate entrepreneur or a real estate investor. In contrast, real estate development is building, improving or renovating real estate.

History

[edit]

During the 1980s, real estate investment funds became increasingly involved in international real estate development. This shift led to real estate becoming a global asset class. Investing in real estate in foreign countries often requires specialized knowledge of the real estate market in that country. As international real estate investment became increasingly common in the early 21st century, the availability and quality of information regarding international real estate markets increased.[1] Real estate is one of the primary areas of investment in China, where an estimated 70% of household wealth is invested in real estate.[2]

Overview

[edit]
  • Property for Sale in Victoria, Australia Sign. (left)
    Property for Sale in Victoria, Australia Sign. (left)
  • The Property in Victoria after it was sold as stated on sign
    The Property in Victoria after it was sold as stated on sign

Types of real estate investments

[edit]

Real estate investing can be divided according to level of financial risk into core, value-added, and opportunistic.[3] Real estate is divided into several broad categories, including residential property, commercial property and industrial property.[4]

Valuation

[edit]
Main article: Real estate appraisal

Real estate markets in most countries are not as organized or efficient as markets for other, more liquid investment instruments. Individual properties are unique to themselves and not directly interchangeable, which makes evaluating investments less certain. Unlike other investments, real estate is fixed in a specific location and derives much of its value from that location. With residential real estate, the perceived safety of a neighbourhood and the number of services or amenities nearby can increase the value of a property. For this reason, the economic and social situation in an area is often a major factor in determining the value of its real estate.[5]

Property valuation is often the preliminary step taken during a real estate investment. Information asymmetry is commonplace in real estate markets, where one party may have more accurate information regarding the actual value of the property. Real estate investors typically use a variety of real estate appraisal techniques to determine the value of properties before purchase. This typically includes gathering documents and information about the property, inspecting the physical property, and comparing it to the market value of similar properties.[6] A common method of valuing real estate is by dividing its net operating income by its capitalization rate, or CAP rate.[7]

Numerous national and international real estate appraisal associations exist to standardize property valuation. Some of the larger of these include the Appraisal Institute, the Royal Institution of Chartered Surveyors and the International Valuation Standards Council.[6]

Investment properties are often purchased from a variety of sources, including market listings, real estate agents or brokers, banks, government entities such as Fannie Mae, public auctions, sales by owners, and real estate investment trusts.

Financing

[edit]
See also: List of real estate investment firms

Real estate assets are typically expensive, and investors will generally not pay the entire amount of the purchase price of a property in cash. Usually, a large portion of the purchase price will be financed using some sort of financial instrument or debt, such as a mortgage loan collateralized by the property itself. The amount of the purchase price financed by debt is referred to as leverage. The amount financed by the investor's own capital, through cash or other asset transfers, is referred to as equity. The ratio of leverage to total appraised value (often referred to as "LTV", or loan to value for a conventional mortgage) is one mathematical measure of the risk an investor is taking by using leverage to finance the purchase of a property. Investors usually seek to decrease their equity requirements and increase their leverage, so that their return on investment is maximized. Lenders and other financial institutions usually have minimum equity requirements for real estate investments they are being asked to finance, typically on the order of 20% of appraised value. Investors seeking low equity requirements may explore alternate financing arrangements as part of the purchase of a property (for instance, seller financing, seller subordination, private equity sources, etc.)

If the property requires substantial repair, traditional lenders like banks will often not lend on a property and the investor may be required to borrow from a private lender using a short-term bridge loan like a hard money loan. Hard money loans are usually short-term loans where the lender charges a much higher interest rate because of the higher-risk nature of the loan. Hard money loans are typically at a much lower loan-to-value ratio than conventional mortgages.

Some real estate investment organizations, such as real estate investment trusts (REITs) and some pension funds and hedge funds, have large enough capital reserves and investment strategies to allow 100% equity in the properties that they purchase. This minimizes the risk which comes from leverage but also limits potential return on investment.

By leveraging the purchase of an investment property, the required periodic payments to service the debt create an ongoing (and sometimes large) negative cash flow beginning from the time of purchase. This is sometimes referred to as the carry cost or "carry" of the investment. To be successful, real estate investors must manage their cash flows to create enough positive income from the property to at least offset the carry costs.[citation needed]

In the United States, with the signing of the JOBS Act in April 2012 by President Obama, there was an easing on investment solicitations. A newer method of raising equity in smaller amounts is through real estate crowdfunding which can pool accredited and non-accredited investors together in a special purpose vehicle for all or part of the equity capital needed for the acquisition. Fundrise was the first company to crowdfund a real estate investment in the United States.[8][9]

Sources of investment returns

[edit]

Real estate properties may generate revenue through a number of means, including net operating income, tax shelter offsets, equity build-up, and capital appreciation. Net operating income is the sum of all profits from rents and other sources of ordinary income generated by a property, minus the sum of ongoing expenses, such as maintenance, utilities, fees, taxes, and other expenses. Rent is one of the main sources of revenue in commercial real estate investment. Tenants pay an agreed upon sum to landlords in exchange for the use of real property, and may also pay a portion of upkeep or operating expenses on the property.[10]

Tax shelter offsets occur in one of three ways: depreciation (which may sometimes be accelerated), tax credits, and carryover losses which reduce tax liability charged against income from other sources for a period of 27.5 years. Some tax shelter benefits can be transferable, depending on the laws governing tax liability in the jurisdiction where the property is located. These can be sold to others for a cash return or other benefits.

Equity build-up is the increase in the investor's equity ratio as the portion of debt service payments devoted to principal accrue over time. Equity build-up counts as positive cash flow from the asset where the debt service payment is made out of income from the property, rather than from independent income sources.

Capital appreciation is the increase in the market value of the asset over time, realized as a cash flow when the property is sold. Capital appreciation can be very unpredictable unless it is part of a development and improvement strategy. The purchase of a property for which the majority of the projected cash flows are expected from capital appreciation (prices going up) rather than other sources is considered speculation rather than investment. Research results that found that real estate firms are more likely to take a smaller stake in larger assets when investing abroad (Mauck & Price, 2017).

Foreclosure investment

[edit]
Main article: Foreclosure investment

Some individuals and companies focus their investment strategy on purchasing properties that are in some stage of foreclosure. A property is considered in pre-foreclosure when the homeowner has defaulted on their mortgage loan. Formal foreclosure processes vary by state and may be judicial or non-judicial, which affects the length of time the property is in the pre-foreclosure phase. Once the formal foreclosure processes are underway, these properties can be purchased at a public sale, usually called a foreclosure auction or sheriff's sale. If the property does not sell at the public auction, then ownership of the property is returned to the lender.[11] Properties at this phase are called Real Estate Owned, or REOs.

Once a property is sold at the foreclosure auction or as an REO, the lender may keep the proceeds to satisfy their mortgage and any legal costs that they incurred minus the costs of the sale and any outstanding tax obligations.

The foreclosing bank or lending institution has the right to continue to honor tenant leases (if there are tenants in the property) during the REO phase but usually, the bank wants the property vacant to sell it more easily.[12]

Buy, rehab, rent and refinance

[edit]

Buy, rehab, rent, refinance (BRRR)[13] is a real estate investment strategy, used by real estate investors who have experience renovating or rehabbing properties to "flip" houses.[14] BRRR is different from "flipping" houses. Flipping houses implies buying a property and quickly selling it for a profit, with or without repairs. BRRR is a long-term investment strategy that involves renting out a property and letting it appreciate in value before selling it. Renting out a BRRR property provides a stable passive income source that is used to cover mortgage payments while home price appreciation increases future capital gains.[15]

The phrase was slightly updated in a 2022 Bloomberg News article noting that BiggerPockets added "Repeat" to the end, making it "BRRRR" to describe a real estate investing strategy of Buy, Rehab, Rent, Refinance, Repeat.[16]

Impact

[edit]

According to Lima et al. (2022), in Ireland, the financialization of rental housing, which includes the entry of institutional investors into urban rental housing markets, contributed to structural factors that create homelessness directly by worsening affordability and security in the private rental market, and indirectly by influencing state policy.[17][18] It was found that the history, politics, and geography of the REITs cause the collapse of Irelands market (Waldron, 2018).

See also

[edit]
  • Cash on cash return
  • Depreciation recapture
  • Internal rate of return
  • Investment company
  • Investment rating for real estate
  • Investors United (School of Real Estate Investing)
  • Real estate appraisal
  • Real estate investment trust (REIT)
  • Off-plan property
  • Wholesaling

References

[edit]
  1. ^ MacGregor, Bryan D.; Schulz, Rainer; Green, Richard K. (7 December 2018). Routledge Companion to Real Estate Investment. Routledge. ISBN 9781317687856.
  2. ^ Lau, Yvonne (2 December 2021). "China stores 70% of its wealth in real estate. Now, the property crisis is forcing investors to reconsider their favorite means of savings". Fortune.
  3. ^ Garay, Urbi, Investment Styles, Portfolio Allocation, and Real Estate Derivatives (2016). Garay, U. “Investment Styles, Portfolio Allocation, and Real Estate Derivatives.” In Kazemi, H.; Black, K.; and D. Chambers (Editors), Alternative Investments: CAIA Level II, Chapter 16, Wiley Finance, 3rd Edition, 2016, pp. 401–421.
  4. ^ Glickman, Edward (14 October 2013). An Introduction to Real Estate Finance. Academic Press. ISBN 978-0-12-378627-2.
  5. ^ Levy, Richard M. (5 November 2019). Introduction to Real Estate Development and Finance. Routledge. ISBN 978-0-429-89113-7.
  6. ^ a b Morri, Giacomo; Benedetto, Paolo (9 July 2019). "Introduction to Property Valuation". Commercial Property Valuation: Methods and Case Studies. John Wiley & Sons. ISBN 978-1-119-51215-8.
  7. ^ Glickman, Edward (14 October 2013). An Introduction to Real Estate Finance. Academic Press. p. 129. ISBN 978-0-12-378627-2.
  8. ^ "Fundrise Adds Big Name Investors Including Ratner, Elghanayan & Guggenheim: Funding Now at $38 Million". 26 September 2014.
  9. ^ Gage, Deborah (26 September 2014). "Renren-Backed Fundrise Bulks up in Real Estate Crowdfunding Sector". Wall Street Journal.
  10. ^ Glickman, Edward (14 October 2013). An Introduction to Real Estate Finance. Academic Press. pp. 95–107. ISBN 978-0-12-378627-2.
  11. ^ Lex Levinrad (17 December 2010). "Investing in Foreclosures For Beginners". Distressed Real Estate Institute. Archived from the original on 2 January 2013. Retrieved 31 December 2012.
  12. ^ Portman, Janet (7 February 2008). "Foreclosure causes heartache for renters". Inman News. Retrieved 24 February 2008.
  13. ^ Eisen, Ben (9 December 2018). "Housing Slowdown Unnerves the Fix-and-Flip Crowd". WSJ. Retrieved 15 October 2019.
  14. ^ "How young investors are chasing early retirement". Albany Business Review. Retrieved 15 October 2019.
  15. ^ Greene, David (16 May 2019). Buy, Rehab, Rent, Refinance, Repeat: The BRRRR Rental Property Investment Strategy Made Simple. pp. 13, 15.
  16. ^ Gopal, Prashant (25 March 2022). "Homeowners Spin Soaring Prices Into U.S. Real Estate Riches". Bloomberg.com. Retrieved 28 March 2023.
  17. ^ Lima, Valesca; Hearne, Rory; Murphy, Mary P. (11 May 2022). "Housing financialisation and the creation of homelessness in Ireland" (PDF). Housing Studies: 1–24. doi:10.1080/02673037.2022.2042493.
  18. ^ Lima, Valesca (2 January 2023). "The political frame of a housing crisis: Campaigning for the right to housing in Ireland" (PDF). Journal of Civil Society. 19 (1): 37–56. doi:10.1080/17448689.2023.2206158.
 

 

 

For the legal concept, see Real property. For other uses, see Real Estate (disambiguation).
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Higher category: Law and Common law
 

Real estate is property consisting of land and the buildings on it, along with its natural resources such as growing crops (e.g. timber), minerals or water, and wild animals; immovable property of this nature; an interest vested in this (also) an item of real property, (more generally) buildings or housing in general.[1][2] In terms of law, real relates to land property and is different from personal property, while estate means the "interest" a person has in that land property.[3]

Real estate is different from personal property, which is not permanently attached to the land (or comes with the land), such as vehicles, boats, jewelry, furniture, tools, and the rolling stock of a farm and farm animals.

In the United States, the transfer, owning, or acquisition of real estate can be through business corporations, individuals, nonprofit corporations, fiduciaries, or any legal entity as seen within the law of each U.S. state.[3]

History of real estate

[edit]

The natural right of a person to own property as a concept can be seen as having roots in Roman law as well as Greek philosophy.[4] The profession of appraisal can be seen as beginning in England during the 1500s, as agricultural needs required land clearing and land preparation. Textbooks on the subject of surveying began to be written and the term "surveying" was used in England, while the term "appraising" was more used in North America.[5] Natural law which can be seen as "universal law" was discussed among writers of the 15th and 16th century as it pertained to "property theory" and the inter-state relations dealing with foreign investments and the protection of citizens private property abroad. Natural law can be seen as having an influence in Emerich de Vattel's 1758 treatise The Law of Nations which conceptualized the idea of private property.[6]

One of the largest initial real estate deals in history known as the "Louisiana Purchase" happened in 1803 when the Louisiana Purchase Treaty was signed. This treaty paved the way for western expansion and made the U.S. the owners of the "Louisiana Territory" as the land was bought from France for fifteen million dollars, making each acre roughly 4 cents.[7] The oldest real estate brokerage firm was established in 1855 in Chicago, Illinois, and was initially known as "L. D. Olmsted & Co." but is now known as "Baird & Warner".[8] In 1908, the National Association of Realtors was founded in Chicago and in 1916, the name was changed to the National Association of Real Estate Boards and this was also when the term "realtor" was coined to identify real estate professionals.[9]

The stock market crash of 1929 and the Great Depression in the U.S. caused a major drop in real estate worth and prices and ultimately resulted in depreciation of 50% for the four years after 1929.[10] Housing financing in the U.S. was greatly affected by the Banking Act of 1933 and the National Housing Act in 1934 because it allowed for mortgage insurance for home buyers and this system was implemented by the Federal Deposit Insurance as well as the Federal Housing Administration.[11] In 1938, an amendment was made to the National Housing Act and Fannie Mae, a government agency, was established to serve as a secondary market for mortgages and to give lenders more money in order for new homes to be funded.[12]

Title VIII of the Civil Rights Act in the U.S., which is also known as the Fair Housing Act, was put into place in 1968 and dealt with the incorporation of African Americans into neighborhoods as the issues of discrimination were analyzed with the renting, buying, and financing of homes.[13] Internet real estate as a concept began with the first appearance of real estate platforms on the World Wide Web (www) and occurred in 1999.

Residential real estate

[edit]

Residential real estate may contain either a single family or multifamily structure that is available for occupation or for non-business purposes.[14]

Residences can be classified by and how they are connected to neighbouring residences and land. Different types of housing tenure can be used for the same physical type. For example, connected residences might be owned by a single entity and leased out, or owned separately with an agreement covering the relationship between units and common areas and concerns.[15]

According to the Congressional Research Service, in 2021, 65% of homes in the U.S. are owned by the occupier.[16]

Single-family detached house in Essex, Connecticut, United States
Townhouses in Victoria, Australia
Major categories
  • Attached / multi-unit dwellings
    • Apartment (American English) or Flat (British English) – An individual unit in a multi-unit building. The boundaries of the apartment are generally defined by a perimeter of locked or lockable doors. Often seen in multi-story apartment buildings.
    • Multi-family house – Often seen in multi-story detached buildings, where each floor is a separate apartment or unit.
    • Terraced house (a.k.a. townhouse or rowhouse) – A number of single or multi-unit buildings in a continuous row with shared walls and no intervening space.
    • Condominium (American English) – A building or complex, similar to apartments, owned by individuals. Common grounds and common areas within the complex are owned and shared jointly. In North America, there are townhouse or rowhouse style condominiums as well. The British equivalent is a block of flats.
    • Housing cooperative (a.k.a. co-op) – A type of multiple ownership in which the residents of a multi-unit housing complex own shares in the cooperative corporation that owns the property, giving each resident the right to occupy a specific apartment or unit. Majority of housing in Indian metro cities are of these types.
    • Tenement – A type of building shared by multiple dwellings, typically with flats or apartments on each floor and with shared entrance stairway access found in Britain.
  • Semi-detached dwellings
    • Duplex – Two units with one shared wall.
  • Detached dwellings
    • Bungalows
    • Split-level home
    • Mansions
    • Villas
    • Detached house or single-family detached house
    • Cottages
  • Portable dwellings
    • Mobile homes, tiny homes, or residential caravans – A full-time residence that can be (although might not in practice be) movable on wheels.
    • Houseboats – A floating home
    • Tents – Usually temporary, with roof and walls consisting only of fabric-like material.

Other categories

  • Chawls
  • Havelis
  • Igloos
  • Huts

The size of havelis and chawls is measured in Gaz (square yards), Quila, Marla, Beegha, and acre.

See List of house types for a complete listing of housing types and layouts, real estate trends for shifts in the market, and house or home for more general information.

Real estate and the environment

[edit]

Real estate can be valued or devalued based on the amount of environmental degradation that has occurred. Environmental degradation can cause extreme health and safety risks. There is a growing demand for the use of site assessments (ESAs) when valuing a property for both private and commercial real estate.[17]

Environmental surveying is made possible by environmental surveyors who examine the environmental factors present within the development of real estate as well as the impacts that development and real estate has on the environment.

Green development is a concept that has grown since the 1970s with the environmental movement and the World Commission on Environment and Development. Green development examines social and environmental impacts with real estate and building. There are 3 areas of focus, being the environmental responsiveness, resource efficiency, and the sensitivity of cultural and societal aspects. Examples of Green development are green infrastructure, LEED, conservation development, and sustainability developments.

Real estate in itself has been measured as a contributing factor to the rise in green house gases. According to the International Energy Agency, real estate in 2019 was responsible for 39 percent of total emissions worldwide and 11 percent of those emissions were due to the manufacturing of materials used in buildings.[18]

Development

[edit]
Main article: Real estate development
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  • Condominium
  • Mixed-use development
  • Hotel
  • Hostel
  • Castle
  • Public housing
  • Squat
  • Flophouse
  • Shack
  • Slum
  • Shanty town
  • Villa
Issues
  • Affordability (in the United States)
  • Executive housing
  • Environmental:
  • design
  • planning
  • racism
  • Environmental security
  • Eviction
  • Fair housing
  • Healthiness
  • Homelessness
  • Housing crisis
  • Housing discrimination
  • Housing stress
  • Overpopulation
  • Housing inequality
  • Home ownership
  • Luxury apartments
  • Ownership equity
  • Permit
  • Rent
  • Subprime lending
  • Subsidized housing
  • Sustainable:
  • architecture
  • development
  • living
  • Sustainable city
  • Toxic hotspot
  • Vagrancy
Society and politics
  • Housing First
  • Housing subsidy
  • Impact fee
  • NIMBY
  • Rapid Re-Housing
  • Real estate appraisal
  • Real estate bubble
  • Real estate economics
  • Real estate investing
  • Redlining
  • Rent regulation
  • Right to housing
  • Rent control
  • Rent strike
  • Tenants union
  • YIMBY
Other
  • Alternative lifestyle
  • Assisted living
  • Boomtown
  • Cottage homes
  • Eco-cities
  • Ecovillage
  • Foster care
  • Green building
  • Group home
  • Halfway house
  • Healthy community design
  • Homeless shelter
  • Hospital
  • Local community
  • Log house
  • Natural building
  • Nursing home
  • Orphanage
  • Prison
  • Psychiatric hospital
  • Residential care
  • Residential treatment center
  • Retirement community
  • Retirement home
  • Supportive housing
  • Supported living
 
Housing portal
 
  • Property for sale in Victoria, Australia: sign. (left)
    Property for sale in Victoria, Australia: sign. (left)
  • The property in Victoria after it was sold as stated on sign
    The property in Victoria after it was sold as stated on sign

Real estate development involves planning and coordinating of housebuilding, real estate construction or renovation projects.[19] Real estate development can be less cyclical than real estate investing.[20]

Investment

[edit]
Main article: Real estate investing

In markets where land and building prices are rising, real estate is often purchased as an investment, whether or not the owner intends to use the property. Often investment properties are rented out, but "flipping" involves quickly reselling a property, sometimes taking advantage of arbitrage or quickly rising value, and sometimes after repairs are made that substantially raise the value of the property. Luxury real estate is sometimes used as a way to store value, especially by wealthy foreigners, without any particular attempt to rent it out. Some luxury units in London and New York City have been used as a way for corrupt foreign government officials and business people from countries without strong rule of law to launder money or to protect it from seizure.[21] Investment in real estate can be categorized by financial risk into core, value-added, and opportunistic.[22]

Professionals

[edit]
  • Real estate agent – North America
  • Estate agent – United Kingdom

See also

[edit]
  • Environmental Surveying
  • Green Development
  • Phase I environmental site assessment
  • Commercial real estate
  • Estate (land)
  • Extraterrestrial real estate
  • Fractional financing
  • Land lot
  • Real estate business
  • Real estate economics
  • Right to property

References

[edit]
  1. ^ "Real estate": Oxford English Dictionary online: Retrieved September 18, 2011
  2. ^ James Chen (May 2, 2019). "What Is Real Estate?". investopedia.com. Archived from the original on August 18, 2000. Retrieved May 13, 2019.
  3. ^ a b Real Estate. Funk & Wagnalls New World Encyclopedia, 1. 2018.
  4. ^ Alvik, Ivar (2018). "Protection of Private Property in the Early Law of Nations". Journal of the History of International Law. 20 (2): 220. doi:10.1163/15718050-19041026. S2CID 158672172.
  5. ^ Klaasen, R. L. (1976). "Brief History of Real Estate Appraisal and Organizations". Appraisal Journal. 44 (3): 376–381.
  6. ^ Alvik, Ivar (2018). "Protection of Private Property in the Early Law of Nations". Journal of the History of International Law. 20 (2): 218–227. doi:10.1163/15718050-19041026. S2CID 158672172.
  7. ^ "Louisiana Purchase: Primary Documents in American History". Library of Congress Research Guides. Archived from the original on 2022-06-25. Retrieved 2022-05-18.
  8. ^ Richardson, Patricia (June 2, 2003). "Father-son team scores big at home; Nearly 150 years old, family-owned Baird & Warner Inc. is a dominant force in the area's residential real estate industry, and shows no signs of slowing down or selling out". Crain's Chicago Business.
  9. ^ "History of National Association of Realtors". National Association of Realtors. 13 January 2012. Archived from the original on 13 May 2022. Retrieved 18 May 2022.
  10. ^ Nicholas, T.; Scherbina, A. (2013). "Real Estate Prices During the Roaring Twenties and the Great Depression". Real Estate Economics, 41. 2: 280.
  11. ^ Greer, J. L. (2014). "Historic Home Mortgage Redlining in Chicago". Journal of the Illinois State Historical Society. 107 (2): 204–233. doi:10.5406/jillistathistsoc.107.2.0204.
  12. ^ "A Brief History of the Housing Government-Sponsored Enterprises" (PDF). Federal Housing Finance Agency – OIG. Archived (PDF) from the original on 2023-03-08. Retrieved 2022-05-18.
  13. ^ Taylor, K. Y. (2018). "How Real Estate Segregated America". Dissent. 65 (4): 23–24. doi:10.1353/dss.2018.0071. S2CID 149616841.
  14. ^ "Title 16. Conservation; Chapter 1. National Parks, Military Parks, Monuments, and Seashores; Minute Man National Historical Park". US Legal. Archived from the original on 2017-07-08. Retrieved 2015-10-04.
  15. ^ Kimberley Amadeo (March 28, 2019). "Real Estate, What It Is and How It Works". thebalance.com. Archived from the original on May 13, 2019. Retrieved May 13, 2019.
  16. ^ "Introduction to U.S. Economy: Housing Market" (PDF). Congressional Research Service. Archived from the original on 2022-07-29. Retrieved 2022-05-18.cite web: CS1 maint: bot: original URL status unknown (link)
  17. ^ Cutting, Robert H.; Calhoun, Lawrence B.; Hall, Jack C. (2012). "'Location, Location, Location' Should Be 'Environment, Environment, Environment': A Market-Based Tool to Simplify Environmental Considerations in Residential Real Estate". Golden Gate University Environmental Law Journal.
  18. ^ "Global status report for buildings and construction". International Energy Agency. 2019.
  19. ^ Frej, Anne B; Peiser, Richard B. (2003). Professional Real Estate Development: The ULI Guide to the Business (2 ed.). Urban Land Institute. p. 3. ISBN 0874208947. OCLC 778267123.
  20. ^ Geltner, David, Anil Kumar, and Alex M. Van de Minne. "Riskiness of real estate development: A perspective from urban economics and option value theory." Real Estate Economics 48.2 (2020): 406–445.
  21. ^ "Why Manhattan's Skyscrapers Are Empty". The Atlantic. 16 Jan 2020. Archived from the original on 13 April 2021. Retrieved 13 April 2021.
  22. ^ Garay, Urbi, Investment Styles, Portfolio Allocation, and Real Estate Derivatives (2016). Garay, U. “Investment Styles, Portfolio Allocation, and Real Estate Derivatives.” In Kazemi, H.; Black, K.; and D. Chambers (Editors), Alternative Investments: CAIA Level II, Chapter 16, Wiley Finance, 3rd Edition, 2016, pp. 401–421.
[edit]
  • The dictionary definition of real estate at Wiktionary
  • Quotations related to Real estate at Wikiquote
 
 
 

 

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If you're looking to sell your house fast, definitely call Danny. He and his team make the entire process seamless and stress-free. He is local, credible, and has 20+ years of experience! Keep up the awesome work, Danny!

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William Porter

(5)

I have been working with Danny for a very long time (close to 15 years) . On every transaction that we have done, he is professional, quick and proficient. He is also very patience and thoughtful to the owners concerns and needs. I would definitely recommend him to anyone looking to sell a home. You will not be s disappointed!

Kay Barnes

(5)

I had a fantastic experience working with Danny Buys Houses in San Antonio, Texas! From start to finish, the process was smooth, transparent, and stress-free. Danny and his team were professional, honest, and extremely knowledgeable about the local real estate market. If you're looking to sell your house fast in San Antonio, TX, I highly recommend Danny Buys Houses. They made what could have been a complicated process feel simple and straightforward. Whether you’re dealing with foreclosure, an inherited property, or just need a fast home sale, this team is the real deal. I would definitely work with them again in the future!

Jessica Middleton

(5)

If you're looking to sell your house fast, definitely call Danny. He and his team make the entire process seamless and stress-free. He is local, credible, and has 20+ years of experience! Keep up the awesome work, Danny!

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Frequently Asked Questions

The key steps involve conducting a title search to ensure clear ownership, negotiating and drafting a purchase agreement, managing any necessary inspections or appraisals, and coordinating with a title company for closing. Cash transactions can often expedite this process by eliminating the need for mortgage approval.
Cash home buyers typically speed up the transaction process as they eliminate the need for mortgage underwriting and approval. This can reduce the time required from offer acceptance to closing to as little as one to two weeks, depending on how quickly due diligence and legal paperwork can be completed.
Legal considerations include ensuring all property taxes are paid up-to-date, confirming there are no liens or encumbrances on the property, verifying compliance with local real estate laws and regulations, and ensuring proper documentation is prepared and filed during closing. It may be beneficial to consult with a real estate attorney or professional familiar with Texas property law.