Real Estate Term of the Day: Backup Contract BACKUP CONTRACT – a contract to buy real estate that becomes effective if a prior contract fails to be consummated (Barron’s Dictionary of Real Estate Terms) In a buyer’s market, we don’t see as many backup contracts placed on homes. There are, however, times when we will … More Real Estate Term of the Day: Backup Contract
The #1 question I got asked over the holidays: “How is the real estate market?” My answer is: Opportunistic If you are a Buyer: You have a great chance to lock in on historic low interest rates. According to Freddie Mac’s Primary Mortgage Market Survey®, the average interest rate on a 30-year fixed mortgage was … More The #1 Question I Was Asked Over the Holidays…
Real Estate Term of the Day: Asking Price ASKING PRICE – the list price that an owner would like to receive for their property (Barron’s Dictionary of Real Estate Terms) Here are a few things to consider when trying to understand how the asking price should be properly arrived at: What are similar homes selling … More Real Estate Term of the Day: Asking Price
Real Estate Term of the Day: Asbestos ASBESTOS – insulation material frequently used in older buildings as pipe wrap, boiler insulation, floor tile, and ceiling coating (called Asbestos-Containing Material or ACM). Asbestos may become brittle with age. In that condition, it may crumble and release particles which, like dust, become airborne. Breathing asbestos particles may … More Real Estate Term of the Day: Asbestos
LESLIE MONACO REAL ESTATE 