DTI, PMI, LTV … TBH, it can be hard to keep all this stuff straight. This lexicon of real estate terms and acronyms will help you speak the language like a pro. Appraisal management company (AMC): An institution operated independently of a lender that, once notified by a lender, orders a home appraisal. Appraisal: An
Buyers and sellers sometimes have the option of entering into a dual agency relationship with their real estate agent. Although this is not necessarily a problem, you should be aware of exactly what a dual real estate agency means and the restrictions it can place on your agent. What is a dual real estate agency?
Buying or selling a home at the right time is tougher than it sounds. People usually take these actions because of a life event or financial issues, and the economy and real estate forecasts tend to be secondary considerations. Yet both buyers and sellers often pose the question, “When is the best time to buy
Buyers and sellers often enter the market with misconceptions about real estate agents – how we work, how the process works and what the agency relationship is all about. It’s helpful to point out, without getting too far into the weeds, that in any one real estate transaction, there are most likely two agents: one
Most homeowners have that one thing about their home that they wish were different. “My house would be perfect if it just had one more bathroom.” “I love my house – except for the kitchen layout.” “If I had more storage space, I could live here forever.” For some owners, their home’s fatal flaw exists
Your bags are packed, you’re ready to move and the last thing you want to do is follow your agent’s advice about putting time and money into your listing photos. But if you don’t, your photos could prevent the home from selling quickly. Consider these nine do’s and don’ts to help your listing attract the attention it deserves. 1. Do: Take a
Tax assessed value This figure varies throughout the U.S. since it is determined by the taxing authority of the city, county, or state where you live. Sometimes it is the same as the market assessed value and other times counties will multiply the market value by an assessment ratio to get the tax assessed value,
Fact: Real estate brokers’ commission rates are not regulated in any state and are ALWAYS 100% negotiable. When you decide to sell your house, if you are like most people, you will want to hire – or at least consider hiring – a real estate agent to handle the process. Surprisingly, many people think that real estate brokerage commission rates are
When shopping for a home, it’s not uncommon to come across one that truly stands out. It’s not because the home is an old fixer-upper or that it’s a newly renovated home with a designer kitchen. It’s a home that’s architecturally significant or in some way conveys a “different” attribute. For instance, it might be
Whether your home improvements are for you or potential buyers, consider their impact on your home’s potential resale price before picking up your toolbox (or the phone to call a contractor). A brand-new kitchen or bathroom will undoubtedly wow potential buyers, but there’s no guarantee you’ll recoup the money you put into those pricey remodels.