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About Paula Somerville

Experienced Real Estate Agent licensed in D.C. and Maryland. With more than 10 years experience in the Real Estate Industry.

Fairfax Realty Elite

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Paula Somerville


 

Real Estate Glossary Terms

  • Decree

    Decision rendered by a court of law. ...

  • Term Loan

    Intermediate - to long-term collateralized loan granted to a business by a commercial bank, insurance company, or commercial finance company such as to finance the purchase of real estate. The loan is amortized over a fixed period. Loan requiring only interest payment until the last day of its ...

  • 35 Percent Rule Of Thumb

    Have you heard someone talking about a 35-percent rule of thumb and you nodded acknowledging but the truth is that you had NO idea what in the world a “35-percent rule of thumb” means?! We’ve all been there, my friend.The 35-percent rule of thumb is a calculation practice that len ...

  • Late Payment

    A payment made after the grace period stipulated in the note, usually 10-15 days. ...

Real Estate Advice


 

Homebuyer Tips

Pros And Cons Of Living In Clermont Florida

Pros And Cons Of Living In Clermont Florida

Up to this day many people consider Florida to be one of the best places to live. With an average of 237 days of sunshine per year and great year-round weather there is no wonder why many people want to live here. At some point, you get tired of rainy days and the never-ending cold season with below-freezing temperatures. On top of that Florida has no state income tax, ...

Homebuyer Tips

The Pros And Cons Of Living In Pensacola

The Pros And Cons Of Living In Pensacola

The process of choosing a new place to live is often a bit daunting. When your head is spinning from trying to make sense of all the different relevant factors such as crime rates, climate, job opportunities and living costs, it often feels overwhelming, leaving you hopelessly lost without the slightest clue where to start. If you are in this predicament and Pensacola ...

Homebuyer Tips

Pros And Cons Of Living In Melbourne, FL

Pros And Cons Of Living In Melbourne, FL

If you’re starting to think about moving to Melbourne, FL get ready to launch yourself into a new lifestyle surrounded by technology advancements within Florida’s Space Coast. While it is the center of high-tech aerospace development in the area, Melbourne, FL is also an oasis for natural explorations, beach life and any outdoor activity you could possibly ...

Home Seller Tips

Homes For Sale In Fort Washington

Homes For Sale In Fort Washington

Just south of Washington D.C. is the small unincorporated census-designated area of Fort Washington, MD. As the capital, its location is on the right side of the Potomac River and there are around 19 miles between the downtown areas of these two cities. Fort Washington, MD is a much smaller town than the nation’s capital but despite their huge differences, the two ...

Agent Advice

Living In Lakewood Ranch FL

Living In Lakewood Ranch FL

If you never experienced the beautiful weather of Florida and never had the chance to watch a beautiful sunset on one of Florida’s breathtaking coastlines then you are missing out on a unique opportunity. Maybe it’s time that you stop letting all the opportunities pass you by and enjoy your life at its fullest. At some point in your life, you will be ...

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