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National Association of Realtors
(NAR) |
A real estate trade organization that sets the
standards for integrity and honesty within the real estate profession
nationwide |
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Negative amortization |
A gradual increase in the balance of a loan or
mortgage which occurs because the monthly payments made are too small to cover
the entire principal and interest charges; this shortfall amount is added to
the remaining balance, resulting in negative amortization |
|
Net listing |
The advertisement of the price of property for
sale in terms of the net price the seller will receive, once the property is
sold, a type of listing which is illegal in many states |
|
Net worth |
The total value of all of an individual's
assets, minus all liabilities or debts |
|
No cash-out refinance |
A transaction for refinancing a mortgage in
which the new mortgage amount is limited to the sum total of the remaining
balance of the first mortgage, points, closing costs, whatever is required to
satisfy any liens that are more than one year old and other funds for the
borrower's use (as long as the amount is one percent or less of the principal
amount of the new mortgage) |
|
Notary |
An individual authorized by law to certify
documents and signatures |
|
Note |
A legal document that obligates a borrower to
repay a loan or owed sum of money at a stated interest rate over a designated
period of time |
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Did I Miss the Word YOU Are Looking For? Is there a real estate word that I failed to explain here in my dictionary for homebuyers and sellers? Let me be your personal real estate dictionary! I'll send a brief explanation of any word or term that you encounter when buying and selling property. Do you have a suggestion of a real estate word that should be included? Let me know! I always appreciate feedback. Do any of these definitions raise questions for you? Didn't find the word you're looking for? Let me know! I'm happy to answer ANY questions. It's my job! There's no obligation, and I promise to get back to you quickly...
| Q |
What site discovered in 1965 is considered the world's oldest known habitation?
|
| A |
The Terra Amata site in Nice, France has the remains of 21 huts belonging to the Acheulian culture from 400,000 years ago. |
 See More Real Estate Trivia > |
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Billie Magerfield
Real Estate III
1318 Piper Way
Keswick, VA 22947
Tel: 434-962-8865
Fax: 434-977-8940
Email: bmagerfield@NUMBER1EXPERT.com
I have been active in the real estate business for over 20 years, working in both the Richmond and Charlottesville, VA markets. Having experience in both restoring old homes and building new ones, I understand the complexities of both the purchasing and the construction process. I particularly enjoy showing newcomers around the area, sharing my knowledge of local history and Charlottesville culture. In real estate, the greatest rewards for me are the friendships I maintain with my clients well after the purchase or sale of their home has closed. If repeat business is a good measure of a Realtor's success, this explains why I have been one of top producers in the Charlottesville area for the last eight years.   
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