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Real Estate Dictionary

What is the HUD Section 202 Housing List?

The HUD Section 202 Housing List is a directory of affordable, HUD-subsidized housing for low-income seniors (62+), where residents pay 30% of their income for rent, with properties managed by nonprofits or housing agencies.

February 11, 2025

What are Davis-Bacon Wages?

Davis-Bacon Wages are federally mandated prevailing wages that must be paid to workers on federally funded or assisted construction projects, ensuring fair compensation based on local labor standards.

February 11, 2025

What is the HUD 241(a) Program?

The HUD 241(a) Program provides supplemental FHA-insured financing for improvements or expansions of existing FHA-backed multifamily and healthcare properties, offering low fixed rates and high LTV ratios but requiring HUD approval, compliance with Davis-Bacon wages, and the ability to support additional debt.

February 11, 2025

What is the HUD 232 Program?

The HUD 232 Program is an FHA-insured loan program that provides long-term, non-recourse financing for the construction, acquisition, rehabilitation, or refinancing of senior housing and healthcare facilities, offering low fixed interest rates and high loan-to-value ratios.

February 11, 2025

What's the Difference Between an Appraiser and a Valuation Consultant in Real Estate?

An appraiser provides certified, regulated property valuations for legal, tax, and lending purposes, while a valuation consultant offers flexible, strategic market insights and investment analysis without formal certification requirements.

February 11, 2025

What are the Tax Implications of Renting your Primary Residence?

Renting your primary residence requires reporting rental income, allows expense deductions, may trigger depreciation recapture and partial capital gains tax upon sale if rented for more than 3 years, but you can avoid tax on short-term rentals (≤14 days) and potentially exclude up to $500K in gains if you meet the 2-out-of-5-year residency rule.

February 9, 2025

Can You Deduct Renovation Expenses for Rental Property?

Renovation expenses for a rental property are fully deductible in the year incurred if they are repairs, but must be depreciated over time if they are capital improvements that increase the property's value or extend its life.

February 9, 2025

What is a Merchant Builder in Commercial Real Estate?

A Merchant Builder in commercial real estate is a developer who constructs properties with the intent to sell them quickly after stabilization, focusing on short-term value creation rather than long-term ownership and cash flow.

February 9, 2025

SBA 7(a) vs SBA 504 in Commercial Real Estate

The SBA 7(a) loan offers flexible financing for real estate, working capital, and business needs with a single lender, while the SBA 504 loan is ideal for owner-occupied commercial real estate with lower down payments and long-term fixed rates through a dual-lender structure.

February 9, 2025

What is FAR in Real Estate Development?

FAR (Floor Area Ratio) is a zoning metric that determines the maximum allowable building floor area relative to the lot size, regulating density, height, and development potential.

February 9, 2025
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