Industry Acronyms
Properties
General Real Estate
Real Estate Math
Famous Real Estate
100
HUD
What is Housing of Urban Development?
100
What duty does an agent acting as a property manager owe a property owner?
Fiduciary Duty.
100
This term is used to describe a professional estimate/opinion on the value of real estate
What is an appraisal?
100
Sharon purchased a home for $100,000 with a 6% annual interest rate. Her payments are $800 per month. How much of her first payment will go to principal?
What is $300?
$100,000 * 6% = $6,000 annual interest
$6,000 / 12 months = $500 monthly interest
$800 - $500 = $300 towards principal
100
In The Wizard of Oz, Dorothy said, "There is no place like home!"... Her home was in this tornado prone state.
What is Kansas?
200
WDI
What are Wood Destroying Insects?
200
A property management contract should not include this.
What is the tenant's signature?
200
What are The Canons of Professional Ethics?
What are fidelity, integrity, and competency?
200
43560
What is many feet in an acre.
200
The Flintstones lived in this town.
What is Bedrock?
300
ARM
What is an Adjustable Rate Mortgage ?
300
This type of title bears the most protection for the property owner.
What is a Warranty deed?
300
What is the sum of money to be held in escrow as a good faith deposit called?
What is Earnest Money?
300
How many acres are in a lot that measures 250 feet by 325 feet?
What is 1.86?
250 feet * 325 feet = 81,250 square feet
81,250 / 43,560 square feet per acre = 1.86 acres
300
This Real estate board game became the best-selling game in America just one year after it was created.
What is Monopoly
400
CMA
What is Comparative Market Analysis?
400
Donnie's neighbor, Paul, has an easement to cross Donnie's property to get to his own. The easement is recorded and transfers with the land if either Donnie or Paul sell their property. When an easement is on a title, it is an example of a(n):
What is an Encumbrance?
400
DAILY DOUBLE!!!!!!!
What are two examples of special use property?
DAILY DOUBLE!!!!
Schools and cemeteries.
400
Total of Principle, Interest, taxes and insurance
What is a mortgage payment?
400
Elvis had Graceland, Prince had Paisley Park, but neither had what Dolly has.
What is Dollywood?
500
DOM
What is Days on Market?
500
What type of lien is a mortgage?
What is a voluntary lien?
500
The company that completes the transaction for buyers and sellers.
What is the title company?
500
Karen recently sold a home for a 6% commission. If her commission was $20,700, how much did the property sell for?
What is $345,000?
$20,700 / 0.06 = $345,000
500
Renovated by Ryan Gosling....'s character, this gorgeous five-bedroom, four-and-a-half bathroom estate spans 4,255 square feet, and would cost approximately $12,000/month to rent today. What movie is this from?
Spoiler, it's the nursing home.
What is The Notebook?