What does reforecast mean in real estate?

What does Reforecast mean in Real Estate?

In real estate, "reforecast" refers to the process of revising an existing financial forecast or budget based on new information, changes in the market, or adjustments to the project or property's performance. This practice is common in real estate development and investment, where initial forecasts might need updates due to changes in construction costs, leasing rates, occupancy levels, or other economic factors. Reforecasting allows investors, developers, and property managers to adjust their expectations and strategies to better align with current realities, enhancing decision-making and financial planning for properties or projects.

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