Real Estate Term of the Day: HVAC HVAC – an acronym that refers to the climate control system in buildings (Heat, Ventilation, and Air-Conditioning) (Barron’s Dictionary of Real Estate Terms) Here is a great illustration on how a HVAC system works in the winter and the summer: Sorce: http://www.sentryheatingandcooling.com
Real Estate Term of the Day: Housing Affordability Index HOUSING AFFORDABILITY INDEX – a statistical indicator of the ability of households in an area to purchase housing at prevailing prices with currently available financing. Most commonly used indexes compare the amount of income of the typical household in an area to the required monthly payment of … More Real Estate Term of the Day: Housing Affordability Index
Real Estate Term of the Day: House Poor HOUSE POOR – a situation in which so much income goes to the costs of owning a home that little is left over for discretionary expenditures (Barron’s Dictionary of Real Estate Terms) Below is a great article regarding avoiding becoming house poor: “Why So Many People Are … More Real Estate Term of the Day: House Poor
Real Estate Term of the Day: Home Warranty HOME WARRANTY – offers protection for mechanical systems and attached appliances against unexpected repairs not covered by homeowners’ insurance; coverage extends over a specific time period and does not cover the home’s structure (HUD Glossary) Learn more about receiving your home warranty at closing Below is a … More Real Estate Term of the Day: Home Warranty
LESLIE MONACO REAL ESTATE 