Where cozy means tiny and charming means needs work.
The protective top layer of a building, or materials used to create it—essentially the difference between staying dry and renovating your furniture collection with water damage.
Property that reverted to lender ownership after foreclosure, becoming the bank's problem instead of yours. These properties are the financial equivalent of returned merchandise.
Renting with an option to purchase later, effectively allowing tenants to try homeownership before committing.
Annual rental income divided by property cost, an investment metric that helps you understand if you're actually making money.
A company that owns income-producing real estate, selling shares to investors—real estate for people who don't want to deal with actual property.
IRS taxation of previously claimed depreciation deductions when a property is sold—the tax agency's way of clawing back your deductions.
A licensed professional who represents buyers or sellers in property transactions and earns a commission (typically 5-6%) upon sale. They're part cheerleader, part negotiator, and 100% invested in closing the deal.