Every business has it's jargon and residential real estate is no exception. Mark Nash author of 1001 Tips for Buying and Selling a Home shares commonly used terms with home buyers and sellers.
1031 exchange or Starker exchange: The delayed exchange of properties that qualifies for tax purposes as a tax-deferred exchange.
1099: The statement of income reported to the IRS for an independent contractor.
A / I: A contract that is pending with attorney and inspection contingencies.
Accompanied showings: Those shows where the listing agent must accompany an agent and his or her clients when viewing a listing.
Addendum: An addition to; a document.
Adjustable rate mortgage (ARM): A type of mortgage loan which interest rate is tied to an economic index, which fluctuates with the market. Typical ARM periods are one, three, five, and seven years.
Agent: The licensed real estate salesperson or broker who represents buyers or sellers.
Annual percentage rate (APR): The total costs (interest rate, closing costs, fees, and so on) that are part of a borrower's loan, expressed as a percentage rate of interest. The total costs are amortized over the term of the loan.
Application fees: Fees that mortgage companies charge buyers at … Read More
One such manufacturer that thinks in benefit for money when it comes to home renovations is Million Dollars Makeovers. Spearheaded by Sasha de Bretton this company believes in giving you the best when it comes to transforming your home and giving it the look that you have always dreamt of.
Tagged: , house renovation , renovations , renovation perth , perth home renovations , house renovations , home renovations perth … Read More
When planning a renovation of your kitchen, bathrooms, or adding additional living space to the home, talk to a professional contractor about creating a house that is more efficient and safer to live in. The benefits of green remodeling include saving money through greater efficiency, improving indoor air and water quality and reducing the negative impact on the environment.
Energy efficiency is the top reason why homeowners choose green remodeling, according to the National Association of Home Builders (NAHB) Remodelers. Homeowners save money on utility bills when the home is more energy efficient. This is an attractive feature to home buyers, so creating an energy efficient home also adds to its market value. A certified contractor can conduct an energy evaluation of the home and suggest changes that can be made through professional remodeling or even simple changes, like using newer energy-saving lights or installing a programmable thermostat.
Some ways you can improve energy efficiency:
• Hire a professional contractor to replace drafty, old windows with energy-efficient dual paned windows and replace aluminum siding with newer vinyl siding.
• Properly insulating an attic will yield the largest cost savings-your home will retain heat better during the winter and … Read More
After ten years of living with a color we didn’t really like that much, we’re finally beginning to repaint our living room and dining room. The hardest part so far has been picking out the new colors. These are just a few of the sample colors we painted on one wall to make our final decision.My guess is we’ll be done with this project by Christmas.
Tagged: , paint , samples , Sherwin Williams , color , home improvement , 52 weeks , Fifty Two , Canon EF 15mm Fisheye … Read More
The beginning of a new year is upon us and with a new year, comes a new start. What are your goals for 2013? Perhaps you are thinking of making a financial investment towards your future. Or maybe this is the year you are going to move you and your family into the home of your dreams. Is it time for a larger yard, extra bedrooms or more closet space? Maybe like most of us, your goal is to finally get your life organized. A large storage space in your basement or garage would make that possible.
The spring is only a few months away and with the change of seasons comes a rise in the real estate market. Now is the perfect time to prepare for buying or selling. If you are in the market to purchase, knowing exactly what you are looking for can save you a ton of time (and possibly snag you a great deal) in the long run. A good starting point is figuring out if you want to buy a resale home (private sales or MLS listings) or a shiny brand new home (from a builder or create your own custom model). Each option … Read More