What is an “Interest Rate” in Real Estate and How Will it Affect My Next Transaction?
Interest rates in real estate are defined as the rate at which you, a borrower of money, pay interest to a lender. These ‘rates’ are usually given ...
What are “Months of Supply” and How Will It Affect My Real Estate Transaction?
Months of Inventory in real estate is defined as the amount of time (or months) it would take for all current MLS® listings to sell given that no new listing...
What is Meant by “Benchmark Price” in Real Estate?
The real estate industry is full of terminology you may not be aware of, one of those being “benchmark price.” You may have heard your Realtor® or another person say this term alrea...
What is an “Agent” in Real Estate?
The term “Agent” in the real estate sector, in its simplest form, is a person who has been given authorization by another person to act on their behalf. This “agent” definition may be used a f...