Tag: real estate term of the day

Real Estate Term of the Day: Housing Affordability Index

March 20, 2015

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: Home Warranty

March 18, 2015

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

Real Estate Term of the Day: Homeownership & Homeownership Rate

March 17, 2015

Real Estate Term of the Day: Homeownership & Homeownership Rate HOMEOWNERSHIP – the state of living in a structure that one owns. Contrasted with being a renter or tenant in one’s home (Barron’s Dictionary of Real Estate Terms)  HOMEOWNERSHIP  RATE – the percentage ratio of owner-occupied dwelling units to total occupied dwelling units in an area (Barron’s Dictionary … More Real Estate Term of the Day: Homeownership & Homeownership Rate