Real Estate Terms of the Week

Home Market Analysis  
The Home Market Analysis presents an opportunity to review and evaluate the facts before you decide the price you will ask for your home. It also helps you look at your home from a buyer’s perspective. This process will establish a realistic listing price and increase the percentage of qualified buyers who look at your property.

REALTOR®  
An active member of a local board of realtors. Local boards are affiliated with the National Association of REALTORS®.

 PITI  
Principal, Interest, Taxes, and Insurance – the four elements of a monthly mortgage payment; payments of principal and interest go directly towards repaying the loan while the portion that covers taxes and insurance (homeowner’s and mortgage, if applicable) goes into an escrow account to cover the fees when they are due.

Source: GMAC Real Estate

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