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Real Estate Owned
Real estate owned, or REO, is a term used in the United States to describe a class of property owned by a lender—typically a bank, government agency, or government loan insurer—after an unsuccessful sale at a foreclosure auction. A foreclosing beneficiary will typically set the opening bid at a foreclosure auction for at least the outstanding loan amount. If there are no bidders that are interested, then the beneficiary will legally repossess the property. This is commonly the case when the amount owed on the home is higher than the current market value of the foreclosure property, such as with a mortgage loan made at a high loan-to-value during a real estate bubble. As soon as the beneficiary repossesses the property it is listed on their books as REO and categorized as an asset. (See ''non-performing asset''). Origin The term originates from the term ''other real estate owned'' (OREO), which is used on financial statements to account for real estate assets which are owned by ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Asset Management
Asset management is a systematic approach to the governance and realization of value from the things that a group or entity is responsible for, over their whole life cycles. It may apply both to tangible assets (physical objects such as buildings or equipment) and to intangible assets (such as human capital, intellectual property, goodwill or financial assets). Asset management is a systematic process of developing, operating, maintaining, upgrading, and disposing of assets in the most cost-effective manner (including all costs, risks, and performance attributes). The term is commonly used in the financial sector to describe people and companies who manage investments on behalf of others. Those include, for example, investment managers that manage the assets of a pension fund. It is also increasingly used in both the business world and public infrastructure sectors to ensure a coordinated approach to the optimization of costs, risks, service/performance, and sustainability. IS ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Real Estate Business
Real estate business is the profession of buying, selling, or renting real estate (land, buildings, or housing)."Real estate": Oxford English Dictionary online: Retrieved September 18, 2011 Sales and marketing It is common practice for an intermediary to provide real estate owners with dedicated sales and marketing support in exchange for commission. In North America, this intermediary is referred to as a real estate agent, real estate broker or realtor, whilst in the United Kingdom, the intermediary would be referred to as an estate agent. In Australia the intermediary is referred to as a real estate agent or real estate representative or the agent. There have been various studies to detect the determinants of housing prices to this day, mostly trying to examine the impacts of structural, locational and environmental attributes of houses. Transactions A real estate transaction is the process whereby rights in a unit of property (or designated real estate) is transferred betwee ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Market Value
Market value or OMV (Open Market Valuation) is the price at which an asset would trade in a competitive auction setting. Market value is often used interchangeably with ''open market value'', ''fair value'' or ''fair market value'', although these terms have distinct definitions in different standards, and differ in some circumstances. Definition International Valuation Standards defines market value as "the estimated amount for which a property should exchange on the date of valuation between a willing buyer and a willing seller in an arm’s-length transaction after proper marketing wherein the parties had each acted knowledgeably, prudently, and without compulsion". Market value is a concept distinct from market price, which is "the price at which one can transact", while market value is "the true underlying value" according to theoretical standards. The concept is most commonly invoked in inefficient markets or disequilibrium situations where prevailing market prices are ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Auction
An auction is usually a process of buying and selling goods or services by offering them up for bids, taking bids, and then selling the item to the highest bidder or buying the item from the lowest bidder. Some exceptions to this definition exist and are described in the section about different types. The branch of economic theory dealing with auction types and participants' behavior in auctions is called auction theory. The open ascending price auction is arguably the most common form of auction and has been used throughout history. Participants bid openly against one another, with each subsequent bid being higher than the previous bid. An auctioneer may announce prices, while bidders submit bids vocally or electronically. Auctions are applied for trade in diverse contexts. These contexts include antiques, paintings, rare collectibles, expensive wines, commodities, livestock, radio spectrum, used cars, real estate, online advertising, vacation packages, emission trading, a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Wholesale Real Estate
Wholesaling or distributing is the sale of goods or merchandise to retailers; to industrial, commercial, institutional or other professional business users; or to other wholesalers (wholesale businesses) and related subordinated services. In general, it is the sale of goods in bulk to anyone, either a person or an organization, other than the end consumer of that merchandise. Wholesaling is buying goods in bulk quantity, usually directly from the manufacture or source, at a discounted rate. The retailer then sells the goods to the end consumer at a higher price making a profit. According to the United Nations Statistics Division, ''wholesale'' is the resale of new and used goods to retailers, to industrial, commercial, institutional or professional users, or to other wholesalers, or involves acting as an agent or broker in buying merchandise for, or selling merchandise to, such persons or companies. Wholesalers frequently physically assemble, sort, and grade goods in large lot ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Real Estate Investor
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. Some investors actively develop, improve or renovate properties to make more money from them. History During the 1980s, real estate investment funds became increasingly involved in international real estate developed. 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. Real estate is one of the primary areas of investment in China, where an estimated 70% of household wealth is invested in real estate. Overview Types of real estate inv ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Drowning
Drowning is a type of suffocation induced by the submersion of the mouth and nose in a liquid. Most instances of fatal drowning occur alone or in situations where others present are either unaware of the victim's situation or unable to offer assistance. After successful resuscitation, drowning victims may experience breathing problems, vomiting, confusion, or unconsciousness. Occasionally, victims may not begin experiencing these symptoms until several hours after they are rescued. An incident of drowning can also cause further complications for victims due to low body temperature, aspiration of vomit, or acute respiratory distress syndrome (respiratory failure from lung inflammation.). Drowning is more likely to happen when spending extended periods of time near large bodies of water. Risk factors for drowning include alcohol use, drug use, epilepsy, minimal swim training or a complete lack of training, and, in the case of children, a lack of supervision. Common drowning ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Swimming Pool
A swimming pool, swimming bath, wading pool, paddling pool, or simply pool, is a structure designed to hold water to enable Human swimming, swimming or other leisure activities. Pools can be built into the ground (in-ground pools) or built above ground (as a freestanding construction or as part of a building or other larger structure), and may be found as a feature aboard ocean-liners and cruise ships. In-ground pools are most commonly constructed from materials such as concrete, natural stone, metal, plastic, or fiberglass, and can be of a custom size and shape or built to a standardized size, the largest of which is the Olympic-size swimming pool. Many health clubs, fitness centers, and private clubs have pools used mostly for exercise or recreation. It is common for municipalities of every size to provide pools for public use. Many of these municipal pools are outdoor pools but indoor pools can also be found in buildings such as natatoriums and leisure centers. Hotels may ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Squatter
Squatting is the action of occupying an abandoned or unoccupied area of land or a building, usually residential, that the squatter does not own, rent or otherwise have lawful permission to use. The United Nations estimated in 2003 that there were one billion slum residents and squatters globally. Squatting occurs worldwide and tends to occur when people who are poor and homeless find empty buildings or land to occupy for housing. It has a long history, broken down by country below. In developing countries and least developed countries, shanty towns often begin as squatted settlements. In African cities such as Lagos much of the population lives in slums. There are pavement dwellers in India and in Hong Kong as well as rooftop slums. Informal settlements in Latin America are known by names such as villa miseria (Argentina), pueblos jóvenes (Peru) and asentamientos irregulares (Guatemala, Uruguay). In Brazil, there are favelas in the major cities and land-based movements. I ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Fannie Mae
The Federal National Mortgage Association (FNMA), commonly known as Fannie Mae, is a United States government-sponsored enterprise (GSE) and, since 1968, a publicly traded company. Founded in 1938 during the Great Depression as part of the New Deal, the corporation's purpose is to expand the secondary mortgage market by securitizing mortgage loans in the form of mortgage-backed securities (MBS), allowing lenders to reinvest their assets into more lending and in effect increasing the number of lenders in the mortgage market by reducing the reliance on locally based savings and loan associations (or "thrifts"). Its brother organization is the Federal Home Loan Mortgage Corporation (FHLMC), better known as Freddie Mac. In 2022, Fannie Mae was ranked number 33 on the ''Fortune'' 500 rankings of the largest United States corporations by total revenue. __TOC__ History Background and early decades Historically, most housing loans in the early 1900s in the United States were s ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Architectural Conservation
Conservation and restoration of immovable cultural property describes the process through which the material, historical, and design integrity of any Cultural property, immovable cultural property are prolonged through carefully planned interventions. The individual engaged in this pursuit is known as an architectural conservator-restorer. Decisions of when and how to engage in an intervention are critical to the ultimate conservation-restoration of cultural heritage. Ultimately, the decision is value based: a combination of artistic, contextual, and informational values is normally considered. In some cases, a decision to not intervene may be the most appropriate choice. Definitions Narrow definition The Conservation Architect must consider factors that deal with issues of prolonging the life and preserving the integrity of architectural character, such as form and style, and/or its constituent materials, such as stone, brick, glass, metal, and wood. In this sense, the term re ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
