Real Estate

/Real Estate

bad-boy guarantee

a provision in a commercial real estate loan agreement that holds individual developers personally liable for the loan if their borrower company should file for bankruptcy.        The commercial real estate market is being hobbled by billions of dollars in distressed debt, and some experts are pointing to a provision in many loans — [...]

food desert

a low-income urban, suburban or rural area where there are limited vendors of fresh produce but often numerous fast-food outlets     For cities, one particular problem is "food deserts" – low-income areas where the prevalent food options are chips and soda at corner stores instead of leafy green vegetables at supermarkets.   See article at: CSM 14Feb11 - The [...]

ghost/ shadow inventory

homes financed by mortgage loans on which no payments are being made but have yet to be listed in a foreclosure sale.   [R]eal estate agents and mortgage brokers wary of optimism are focusing on a new term that has entered the housing lexicon: ghost inventory. Banks appear to be sitting on thousands of homes [...]