Hard cost - The cost of actually constructing property improvements
Hedging - The purchase or sale of mortgage future contracts by a mortgage banker or lender for the purpose of protecting cash transactions made at a future date.
High-rise - In the central business district, this could mean a building higher than 25 stories above ground level, but in suburban markets, it generally refers to buildings higher than seven or eight stories.
Highest and best use - The reasonably probable and legal use of vacant land or an improved property that is physically possible, appropriately supported, financially feasible and that results in the highest value.
Holdbacks - A portion of a loan commitment that is not funded until an additional requirement is met, such as completion of construction.
Hold Over - The condition that results when a tenancy exists beyond the end of the term of a lease.
Housing and Urban Development (HUD) - A U.S. government agency established to implement federal housing and community development programs; oversees the Federal Housing Administration.
HVAC - Acronym for heating, ventilation and air conditioning.