by Kayla Testaverde | Aug 29, 2022 | Real estate glossary
An Automated valuation model (AVM) is a service that calculates real estate values by combining mathematical modeling with databases of existing properties and sales of real estate. Most AVMs will compare values of similar properties at the same point in...
by Kayla Testaverde | Aug 29, 2022 | Real estate glossary
The assessed value of a property is the value set by an assessor in order to calculate property taxes. In general, assessments are tied to the market value of the property on a given date. There are three methods that an assessor may use in order to determine the...
by Kayla Testaverde | Aug 29, 2022 | Real estate glossary
An Appraisal is used to estimate a home’s market value based on several factors including the location, condition of the property, and recent sales of similar homes nearby. The appraiser that is evaluating a property will typically provide a written document...
by Kayla Testaverde | Aug 29, 2022 | Real estate glossary
Amortization is the is the schedule which determines your monthly payment on a loan. In an amortized loan, you will make regular payments based on a schedule that was created when you are approved for the loan. Your amortization schedule will detail how much of each...
by Kayla Testaverde | Aug 29, 2022 | Real estate glossary
The After Repair value or ARV is the value of a property after repairs, taking into account the cost of the repairs and the estimated value of the...
by Kayla Testaverde | Aug 29, 2022 | Real estate glossary
An Adjustable Rate Mortgage, or ARM for short, is a loan with a mortgage rate that adjusts annually depending on market conditions. Typically, these types of mortgages have a fixed rate for a specified amount of time which is then followed by an adjustment period. In...
