Cost Of Living

Definition of "Cost of living"

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Dave Jackley . . . exactly! Berkshire Hathaway HomeServices The Preferred Realty

Cost to buy goods and services encompassed in an accepted standard level of consumption.

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Popular Real Estate Terms

Railroad Retirement System

Insurance established under the federal Railroad Retirement Act for railroad employees, covering death, retirement, disability, and unemployment. Bene ...

Subsurface Rights

The owner of real property generally has exclusive rights to the soil and minerals underneath the land. Significant limitations on subsurface rights h ...

List

To secure a listing by a real estate agent for a certain parcel of property. For example, a real estate broker wishes to list as many properties a pos ...

Management Agreement

Contractual agreement between a commercial or industrial rental property owner and an individual or firm who agrees to maintain the property. Manageme ...

Anti-deficiency Legislation

Statutory authority to meet a budgetary shortfall through increasing revenue by enacting a temporary surcharge or permanent tax increase. ...

Cost Estimating

Projecting what the total cost would be to construct a structure. Costs include material, labor, and lawyers' fees. ...

Popular Real Estate FAQ

What Is An Index?

An index is an economic indicator used to set the rate for adjustable-rate mortgages. ...

What Is A Default?

A default is when a person fails to make payments on a loan. ...

What Is A Rate Lock?

A rate lock is a commitment issued by a lender to a homebuyer or to the mortgage broker guaranteeing a specific interest rate for a specified amount o ...

What Is A Front-end Ratio?

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

What Is Escrow?

Escrow is a trust account created by a neutral third party to hold money for the seller or buyer. When you put down a deposit on a house, for example, ...

How Big Is An Acre?

Wondering how big is an acre?It is common to hear people say that it's almost the size of a football field without both end zones. But sometimes *almo ...

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