Definition Lexicon

“What house investors and their business associates mean when they say…….”
adjustable-rate mortgage
An adjustable-rate mortgage (ARM) is one in which the interest changes periodically, according to corresponding fluctuations in an index.
the annual percentage rate
The annual percentage rate (APR) is the value created according to a government formula intended to reflect the true annual cost of borrowing, expressed as a percentage.
appraisal
An appraisal is a written justification of the price paid for a property, primarily based on an analysis of comparable sales of similar homes nearby.
appraised value
An opinion of a property’s fair market value, based on an appraiser’s knowledge, experience, and analysis of the property. Since an appraisal is based primarily on comparable sales, and the most recent sale is the one on the property in question, the appraisal usually comes out at the purchase price.
appraiser
An individual qualified by education, training, and experience to estimate the value of real property and personal property. Although some appraisers work directly for mortgage lenders, most are independent.
appreciation
The increase in the value of a property due to changes in market conditions, inflation, or other causes.
assessed value
The valuation placed on the property by a public tax assessor for purposes of taxation.
assessment
The placing of a value on property for the purpose of taxation.
assessor
An assessor is a public official who establishes the value of a property for taxation purposes.
bridge loan
A bridge loan is obtained by those who have not yet sold their previous property but must close on a purchase property. The bridge loan becomes the source of their funds for the down payment.
broker
Most Realtors are “agents” who work under a “broker.” Some agents are brokers as well, either working form themselves or under another broker. In the mortgage industry, broker usually refers to a company or individual that does not lend the money for the loans themselves, but broker loans to larger lenders or investors.
clear title
A title that is free of liens or legal questions as to ownership of the property.
home appreciation
Home appreciation is the increase in the value of a property due to changes in market conditions, inflation, or other causes. Home appreciation can be an effective way to profit from real estate investments.
home equity line of credit
A mortgage loan, usually in the second position, that allows the borrower to obtain cash drawn against the equity of his home, up to a predetermined amount.
home inspection
A thorough inspection by a civil engineer or another professional that evaluates the structural and mechanical condition of a property.
home price
Home price is the asking price for a particular home in its current condition.
home prices
Home prices are the asking price for a group of particular homes in their current condition.
home price appreciation
Home price appreciation is the increase in the value of a personal residential property due to changes in market conditions, inflation, or other causes. Home price appreciation can help in building real estate investment assets.
home value
The value of a single home in which a family resides over time represents the home value. True home value is determined at the time of sale.
home values
The cumulative value of multiple homes in which a family resides over time represents the home values. True home values are determined at the time of sale.
house appreciation
House appreciation is the increase in the value of a house purchased for rental, lease or residential use due to changes in market conditions, inflation, or other causes. House appreciation can be an effective way to profit from real estate investments.
house investment
House investment is the use of capital to purchase and manage residential or income property for profit. House investment can result in profits if managed correctly.
house price
House price is the asking price for a particular house in its current condition. The house price is normally above the expected sale price.
house prices
House prices are the asking prices for a group of houses in their current condition. House prices are normally above the expected sale prices
house value
The cumulative values of a single house purchased as rental, lease, or residential property over time represents the house value. True house value is determined at the time of sale.
house values
The cumulative values of multiple houses purchased as rental, lease, or residential properties over time represent the house values. True house values are determined at the time of sale.
investing in real estate
Investing in real estate is the use of capital to purchase and manage residential or income property for profit. Investing in real estate can be very profitable if done correctly.
investment house
An investment house is a residential property purchased principally for gain through rentals, leases or appreciation. Many residential real estate investors have one or more investment houses.
lease
A written agreement between the property owner and a tenant that stipulates the payment and conditions under which the tenant may possess the real estate for a specified period of time.
market value
Market value is the price at which a particular house will sell for in its current condition within 30 to 60 days.
mortgage
A legal document that pledges a property to the lender as security for payment of a debt. Instead of mortgages.
personal property
Any property that is not real property.
property values
The owners estimate of what they think their home is worth based on the most recent appraisal, assessed value, and comparable home prices in the neighborhood is the property value. True property values are determined at the time of sale.
public auction
A meeting in an announced public location to sell the property to repay a mortgage that is in default.
real estate agent
A person licensed to negotiate and transact the sale of real estate.
real estate investment
Financial investment in land and appurtenances, including anything of a permanent nature such as structures, trees, minerals, and the interest, benefits, and inherent rights thereof is real estate investment. Real estate investment can be a very effective use of funds.
real property
Land and appurtenances, including anything of a permanent nature such as structures, trees, minerals, and the interest, benefits, and inherent rights thereof.
Realtor®
A member of the National Association of Realtors, a real estate agent, broker or an associate.
SchoolMatch®
SchoolMatch is a research and database service firm that collects, audits, integrates, processes and manages information about USA communities and their schools and school systems. http://schoolmatch.com
The SchoolMatch® Insititute at the University of Dayton
The SchoolMatch Institute at the University of Dayton is a non-profit center at the University. The Institute is organized as a cooperative effort with the School of Education and Allied Professions to help re-focus aspects of the field service mission of the University to strengthen the link with school systems, with emphasis on measuring school accountability using the copyrighted FareCompare Analysis of Educational Effectiveness methodology.