Ep 54: Important Real Estate Terms

It's time to expand that real estate vocabulary, as we teach you some common real estate terms that you should know.
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On This Episode:

[1:08] – What is an appraisal?

[2:15] – Some of the common issues with an appraisal.

[4:45] – Adjustable Rate Mortgages vs. Fixed Rate Mortgages.

[6:40] – So, which mortgage does the average person typically end up with?

[7:58] – Closing costs. What are they and how much are they typically?

[9:45] – As-is. What does it mean when a home is listed “as-is”?

[11:36] – “Days On Market.” Why is it important for a buyer to know the days on market for a home and is it an important metric for sellers as well?

[12:40] – Colleen compares her “days on market” numbers to the average market in central Oregon.

[14:45] – Find out the potential listing price of your home by texting “Listing” to 77222 from your smartphone.

Colleen Quotes:

“If you’re a seller and you want to sell “as-is,” I highly recommend that we talk about what that truly means. There’s always a way we can structure the offer to have room in there for some of the repairs that are needed, so the buyer feels comfortable… yet the seller nets what they need to net.” – Keeping It Real Estate Podcast

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Show Host

Colleen Benson

Colleen is a licensed Principal Broker in the State of Oregon. She has more than 20 years of experience as a Realtor and has helped build the top Keller Williams team in Salem. Her tremendous team now serves buyers and sellers throughout the Willammette Valley and the Oregon coast. She is the host of the Keeping It Real Estate radio show on 104.3 FM KSLM. The show plays Saturdays and Sundays at 1pm and has been on the air since January of 2019. Don't hesitate to reach out to Colleen if you have any questions about buying or selling real estate in the area!​

Helpful Resources

Home Selling Guide

Thinking about selling your home? Download this helpful guide to learn the 4 questions you to ask yourself.

Home Buying Guide

Thinking about buying a home soon? Download this helpful guide to understand the most important steps.

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