Real Estate Acronyms
MLS
What is the Multiple Listing Service? A real estate portal that collects and shares data on all properties listed w an agent since inception of the MLS.
Meeting with a real estate agent to discuss your wants and needs in a home.
What is a buyer consultation?
478
What is the number of active listings in Rockingham County?
10%
What is the normal down payment at contract in NY, NJ and CT?
Organizing, decluttering, removing personal items, ie. photos, medicine, weapons, valuables like jewelry.
What is Staging? As well as advice from your trusted List agent (Susan)
PITI
What is Principle, Interest, Taxes and Insurance? This number is usually the monthly mortgage payment.
Two most important items for a buyer to have prior to viewing homes.
What is a Pre-approval Letter? It is needed to engage in a serious home search and often required by sellers prior to viewing their homes.
What is an Exclusive Right to Represent- a buyer agent contract?
This tool is the best way to defer capital gains as an investor.
What is a 1031 Exchange?
20%
What is the minimum equity or down payment that a homeowner needs to avoid paying PMI?
Does NH home sellers need to have this document to sell?
Does Mass home sellers need to have this document to sell?
What is a Property Condition Disclosure? Sellers complete this giving the new buyer information about the property condition and age of systems, where things are located and last time things were inspected or updated. If they know of any defects like, flooding mold, leaks, etc. A Home Inspection is still highly recommended.
DTI
What is Debt to Income Ratio? This number is part of the pre-approval process for mortgages. Co-op applications also require buyers to have low DTI ratios to buy in the complex.
This can be a contingency usually done within 5-10 days of going under agreement.
What is a Home Inspection? This detailed report explains the mechanics and structure. Letting the buyer know of any immediate and future repairs/maintenance needed and is performed by a State Licensed Home Inspector.
Approx 4,506 and 19,210
What is the approximate licensed real estate agents in NH (4,506) and what is 19,210 approximate licensed salespersons in Massachusetts
Not all licensed agents or brokers are Realtors; the latter designation requires membership in the NAR.
96.5%
What is the maximum financing the FHA will allow? The Federal Housing Association that provides government backed loans to buyers.
The amount you paid, The assessed value, The amount you owe, What your neighbor says or what Zillow says or what you think it is worth
What does NOT determine your home's value?
REO
What is Real Estate Owned? When a lender forecloses on a property, the property becomes an asset owned by the bank. Banks do not want to own property and make bad decisions when selling these assets.
Price, financing, down payment, timing on closing, inclusions and exclusions, length of due diligence phase is included in this document.
What is an offer? &/or What is a contract?
1974
Women in the U.S. gained the right to have a mortgage or a credit card in their own name without a male co-signer in 1974 with the passage of the Equal Credit Opportunity Act (ECOA). Before that, many banks and lenders required women to have a husband or male relative co-sign for loans and credit, regardless of their income or financial status.
6.75% -7%
What is the current Interest Rate? 1990-2000 interest rates bounced between 6.8 and 10% 2000-2010 interest rates hovered between 5.5% and 7.5%. The decade following the sub-prime collapse in 2008, created great recession and the historically low interest rates.
$74,900 - $25,000,000
What is the price range of all active listings in Rockingham County right now.
CMA
What is a Comparative Market Analysis? Defines a tool that real estate agents use to estimate the value of a specific property by comparing similar ones that have recently sold in the same area.
"On or about" 30-45 days from the accepted offer.
What is the timeline of an average transaction?
The perfect referral for Susan
What is an income worker who has 2 years of work history W-2 and has great credit and has down payment money to buy a home - I would love to meet and educate them on how they can purchase a home
177,104, 21
What is the number of homes that sold since Jan. 1 - March 31, 2025 Single Family, Condos/Townhouses, Co-ops/mobiles in Rockingham County
A relative, a co-worker, a friend or a neighbor. Or a neighbor that you would like to see move.
What is an excellent referral for Susan. Any life event that would create motivation are excellent introductions for me. I love building relationships early on in the process as most home sellers have been in there home on an average of 13.2 years. So they may need a trusted Realtor like Susan by there side.