It recently came to mind that not everyone knows their ABC's. Now, I'm not speaking of the ABC letters you learn in pre-school, rather the ABC's of Real Estate. I know all of you VETERAN agents are quite versed in the lingo, but this is for the Rookie and the first time home buyer. Here we go!
- ACRE- This is not an old & achy knee, or the injury from your college sports days, rather an area of land equal to 43,560 square feet.
- ADJUSTABLE-RATE MORTGAGE (ARM)- An ARM is not what you wish you had more of when parenting toddlers (been there, done that), it's a type of mortgage in which the interest rate is keyed to a certain economic index and adjusts as the index rises and falls. Be Careful...this can go UP or DOWN.
- AGENT - Don't be a SECRET Agent...inform all parties who you are and what you do. This is a person that you should have a contract with...remember get everything in writing or it never happened! Listing Agent = works for the Seller Buyer's Agent = works for the buyer.
There you have it, the first 3 ABC's of real estate 101. Next lesson letter "B". I hope you enjoyed the lesson...CLASS DISMISSED!
Interested in the Austin, Texas market? Give me a call or view Austin area listings @ www.ZipRealty.com JENNIFER WRIGHT - THE "WRIGHT" AGENT FOR ALL YOUR REAL ESTATE NEEDS!
Disclaimer: All information deemed reliable, not guaranteed.
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