In real estate brokerage jargon, a handyman special refers to a property that is in need of repairs, often marketed as a fixer-upper. The implication is that the property is a bargain for someone who can accomplish the repairs economically.
Overbuilding occurs when there is excess real estate construction in an area, surpassing the market's ability to economically support it. This can lead to high vacancy rates, low rental income, and declining property values.
In the USA, immovable property, especially land and buildings.
A real estate agent is a licensed professional who represents buyers and sellers in real estate transactions.
The real estate market refers to the potential buyers and sellers of real property at the current time, as well as the current transaction activity for real property. This includes markets for various property types, such as housing market, office market, condominium market, land market.
A seller's market is a situation where demand for a security or product significantly exceeds its supply, leading to rising prices and allowing sellers to set both prices and terms of sale.
Speculative building involves land development or construction without formal commitments from end users. Builders anticipate future demand, contrasting with custom building, which is contractually defined.
