Pop Quiz: Can You Define These Key Terms in Todays Housing Market?

By
Real Estate Agent with Champion Real Estate Group 0561240

Pop

Some Highlights

  • The language of buying and selling a home may sound scary at first, but knowing how key terms relate to todays market can help you. For example, current low mortgage rates and higher wages positively impact affordability for buyers, while home price appreciation continues to grow home equity, which sellers can use to fuel a move up.
  • Terms like appraisal (what lenders rely on to validate a homes value) and contingencies (which buyers can minimize to make their offer stand out) directly impact the transaction.
  • You don't need to be fluent in the language of the market to buy or sell. Instead, lets connect today so that we can translate the process together.

 

 

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Comments (7)

Bill Salvatore - YVP Blog
Arizona Elite Properties - Chandler, AZ
Realtor - Valley of the Sun / golfArizona@cox.net

Yes, out of control. Enjoy the weekend.  Bill Salvatore

Jul 24, 2021 05:55 AM
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Shayne, sure hope we know these terms, as we use them often, but do need to explain to buyers.

Jul 24, 2021 06:44 AM
Kristin Johnston - REALTOR®
RE/MAX Realty Center 262-567-2455 - Waukesha, WI
Giving Back With Each Home Sold!

Agree with Bill above....have a wonderful weekend ahead!

Jul 24, 2021 06:44 AM
Raymond Henson, eXp Realty
eXp Realty of California, Inc. (lic. #01878277) - Elk Grove, CA
Realtor

Early in my career, a client asked, "What is this thing, a contingency?"  It was late in the transaction just before we closed.  I had explained it several times, but obviously not well.  That is when I realized how important it was to have clear definitions for my clients.  It is easy to fall into the trap of using real estate jargon.  Thank you for taking the time to post some useful definitions for terms we use all of the time.

Jul 24, 2021 06:53 AM
Will Hamm
Hamm Homes - Aurora, CO
"Where There's a Will, There's a Way!"

Hello Shayne and good blog to make us all think about it.  Make it a great day!

 

Jul 24, 2021 07:10 AM
Michael Jacobs
Pasadena, CA
Los Angeles Pasadena 818.516.4393

Hello Shayne - whether it is industry lingo or everyday language, definitions depend on circumstances and context - don't they?  

Jul 24, 2021 09:54 AM
Brian England
Vacasa - Gilbert, AZ
MBA, GRI, REALTOR® Real Estate in East Valley AZ

That is a very nice graphic and will certainly help people understand what those terms mean.

Jul 25, 2021 05:43 AM