Buyer’s Market

Opinion of a judge having no direct legal or binding effect on the outcome of a pending judicial decision. An obiter dictum is considered to be an incidental judicial remark about some ...

Make changes to existing property. Example are putting in a new bathroom, kitchen, or basement ...

In a broader sense, Full Disclosure means presenting all information (significant or not, classified or not) related to a certain matter. In Real Estate, the term “Full ...

Governmental body having the responsibility for planning the future development of a jurisdictional area. A planning commission is responsible for developing and managing a zoning ordinance ...

A designation awarded to REALTORS® who complete a prescribed course of a real estate study. ...

A loan in which the entire charge is subtracted up front from the face value of a loan. The proceeds received are the face value of the loan less this deduction, which increases the ...

Legal status conferred by certain states on a homeowner's principal residence. In certain states, homestead status may provide protection against creditor claims or forced land sales ...

Simply put, probate is a legal proceeding whereby the will of a deceased is tested for validity. The definition of probate is not known to most Americans. According to a Gallup survey, ...

Wondering how do real estate agents get paid? We’ve got to be honest here: some time ago that would be classified as a dumb question because it was kind of obvious. However, faster ...

Not only can homeowners associations impose pet restrictions but almost 100% of them do. Here’s the thing: the job of a homeowners associations or HOA is to look at the big ...

On most transactions, there is usually a listing agent and a selling agent. The selling agent is sometimes referred to as the buyer\'s agent, because he works on the buyer\'s behalf and it ...

From the beginning, basements were not built to provide living space but a place to hide plumbing, wires and water boilers. Home buyers are always interested in the gross living area of a ...

A front-end ratio is a ratio of the borrowers monthly housing expenses-including principal, interest, property taxes, and insurance (OITI)-compared to the borrowers gross, pretax monthly ...

Recently sold properties that are similar in size, location, and amenities to the home for sale. These properties help an appraiser determine the fair market value of a property. ...

A qualifying ratio is the percentages a lender compares to see whether you qualify for a loan. ...

Wondering how to calculate the fair market value of a property? It helps if you understand that it’s all about an estimate; you’ll hardly bull’s-eye-it. Fair market ...