Recession
Definition of "Recession"
A lower phase of a business cycle in which the economy is deteriorating, coupled with a declining rate of business investment and consumer spending. Real Estate prices are typically depressed in recession, although the degree varies among regions.
Popular Real Estate Terms
protective wall along a roof or below a terrace. ...
Buyer agrees to accept the responsibility for the existing mortgage. The seller is not relieved of the obligation unless the lender agrees to release it. Many lenders charge points and ...
Claim of a person or business to real property such as by exercising an option. ...
Substituting one party for another in an action giving that party full rights or claims. Foe example, an insurance company pays the insured for a fire loss caused to the home by a third ...
Rooflike cover that extends over any place to provide shelter from the sun, rain, or wind. ...
(1) Paved roadway constructed above lowlands such as a swamp. (2) Roadway in ancient Egypt connecting the valley temple with a pyramid. ...
The process of upgrading unusable land through making physical improvements. For example, swamp land can be drained and filled in order to make it usable. Barren land can be reforested by ...
Decline in value of property from use. The property's condition is aging. An example is plumbing deteriorating over time. ...
An accessory building is an outdoor structure used by the occupants of the main building or house. They have different functions and can be detached or attached to the main building on the ...
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