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Real estate terms:

The world of real estate is full of terms that can be complex for some people. Whether you’re buying or selling, Yaqeen Real Estate will introduce you to the most important real estate terms:

Real estate development

Real estate development is a multifaceted business that encompasses activities ranging from the repair and renovation of existing buildings or their leasing, to the purchase of vacant land and subsequent sale of developed land. Real estate developers are the coordinators of the various activities mentioned above, transforming innovative ideas on paper into reality on the ground in the form of real estate. It is important to differentiate between real estate development and the construction industry. The real estate developer purchases the land, finances the project, and, in agreement with a construction contractor, builds the property.
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A real estate broker is a person or entity who acts as an intermediary between a seller and a buyer, or a landlord and a tenant, in the real estate sector. A real estate broker helps you facilitate the sale or lease process by providing services that include marketing the property, negotiating between you and the unit owner (or vice versa), and providing each party with the necessary information to make their decision. For example, if you own an apartment in a residential area and want to sell it at the best possible price, the real estate broker’s role begins once you contact him and provide sufficient information about the apartment and the asking price. The real estate broker carefully evaluates the apartment, highlighting its specifications and strengths. Then, he creates an attractive advertisement for the apartment on prominent real estate websites and on his social media accounts. This way, the real estate broker begins attracting the interest of potential buyers through advertising and promotion, and organizes viewing tours for those interested in the apartment. If a buyer expresses serious interest, the broker begins negotiating on your behalf regarding the price and terms with the goal of reaching an agreement that satisfies both parties. Once an agreement is reached, the real estate broker prepares the necessary documents and completes the transaction in a legal and orderly manner. In this way, the broker facilitates the apartment sale process and ensures the best possible price.
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It is a real estate economic phenomenon that occurs periodically in every economy. The Kingdom has experienced several real estate bubbles, at a rate of one every ten years over the past fifty years, according to a study of the size and patterns of supply and demand in the real estate market. The real estate market goes through four stages: recession, recovery, expansion, and then accelerating supply. A bubble occurs at the peak of accelerating supply, as shown in the figure. There are several factors that lead to a bubble, including inflated prices reaching an irresistible stage and then collapsing. Among these factors, the most important is price growth at a rate higher than the growth of the gross domestic product (GDP). Bubbles also occur when there is a high money supply and interest rates fall to low levels, which facilitates construction expansion and increased supply. The question is: Can a bubble be avoided and prevented? The answer: This depends on the country’s economic policy and the state of the economy. Real estate and economic indicators can be monitored and a bubble can be predicted, but it cannot be completely prevented. However, its effects on other real estate-related sectors can be mitigated. If the state wishes to intervene, it can use fiscal or monetary policy tools, such as increasing banks’ regulatory reserves, imposing real estate taxes, limiting the approval of new projects, and raising interest rates.
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A real estate market analysis, also known as a comparative market analysis, is an analysis of the current market values ​​of a property, comparing them to the property you are looking to buy or sell. A real estate market analysis should always be conducted, whether you are buying or selling a property. It will help you understand the current market, the value of similar properties, whether it is an investment property, how much you can afford to pay in rent, etc. Real estate agents and brokers create reports to help sellers determine the list price for their homes, and in lesser cases, to help buyers make competitive offers. The information gathered through a real estate market survey helps sellers choose a listing price and helps buyers determine whether the asking price is too high, too low, or reasonable. There are several reasons for conducting this type of research, the primary reason being to gain information that will allow you to invest and buy safely. Other reasons include: To determine whether you should invest in one city rather than another. To identify factors that hinder investment in certain areas. To understand demographics to determine the development of the area you want to invest in. To obtain information about investment projects in specific areas and to determine whether they will undergo future development that will increase property values. By knowing housing market prices, you’ll always have the opportunity to negotiate a lower price and avoid paying the premium.
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It is the process of determining the market value of a specific property based on a careful analysis of relevant data. This process helps buyers and sellers, as well as lenders and investors, make informed decisions about buying, selling, or financing real estate. Real estate appraisal is calculated using a variety of methods and techniques that take into account the multiple factors that affect a property’s value.
This is an advertisement you post for the sale or rental of a property, similar to the real estate ads on Bayut.com, by including a photo of the property along with a description of the purpose, such as: The purpose of the sale or rental, The area of ​​the unit displayed in the advertisement, and its location. Features
It means buying a property for investment and selling it after its price increases in a short time, such as buying it now and selling it after six months or a year, so that you get a quick investment profit in a short time.
A mortgage is a loan secured by real estate. Unlike home loans, which can only be used to purchase a property, a mortgage can be used for any other purpose, using the property as collateral.
Real estate financing is a process between two parties, the financier and the borrower, to achieve a specific real estate goal, such as building a property, purchasing a property, improving or renovating a property. There are many types of real estate financing, and it includes various types of real estate sectors, from the residential sector to the commercial sector, in addition to real estate development.
Market value in real estate refers to the value of a property at a specific point in time. This value often increases over time, but it can also decrease depending on market conditions.
It is a value that is determined for tax purposes and is reviewed annually based on the property value and current market conditions in the area.

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