Home Affordability Index
Measure of the typical U.S. family's ability to buy a home, published by the National Association of Realtors. When the Index measures 100, a family earning the median income has exactly the amount needed to purchase a median-priced, previously owned home, using conventional financing and a 20% down payment. For example, an index of 140.9 means that half the families in the nation have at least 140.9% if the income needed to qualify for the purchase of a home with a median price of, say, $107,400. some experts maintain that every one-point increase rate results in 300,000 fewer home sales.
Popular Real Estate Terms
A two-by-four used for wall resilience and partitioning. Studs rest on it. ...
The tenant is forced to leave the premises if he complains about the poor condition of the apartment or office space he has leased. This type of eviction is illegal in many states. ...
Refers to state statues protecting the public against securities frauds of real estate companies. ...
The construction of a highway right way over a privately held parcel of land. Property owners are entitled to compensation for the value of the property usurped by a highway easement. See ...
Precalculated tables providing the present values of $1 or an annuity of $1 for different time periods and at different discount rates. ...
A right or interest in property held by a third party, which often limits the use and diminishes the value of the property, but usually does not prevent the transferring of title. The more ...
Location Analysis is the appraisal of a general geographic area for a particular use. A Residential Real Estate Market professional (or consumer) rarely deals with a Location Analysis ...
Property tax that varies in rate depending on the zoning classification (use) of the property. ...
Latin for at first sight. Facts assumed to be true unless subsequent evidence disproves it. ...
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