Key Real Estate Terms

When buying a home, it is important to be knowledgeable about the real estate market in order to obtain the best deal. Unfortunately, there are so many technical terms and jargon that it makes it hard to make sense of what a listing or contract actually means. So before you head into that real estate agent’s office, be sure to know a few key real estate terms. These include: sale-price-to-list-price ratio, the median number of days a house has been on the market, the median list price per square foot over time, the pending status of the home, and the number of distressed properties in the desired area. These terms give insight into the knowledge and ability of the agent, a solid starting point to begin sale price negotiation, the average price of homes in the area, the current status of a house in the selling process, and how to find a good deal. Brush up on these terms and be on your way to a successful home purchase. Read the full article here: