MLS Terminology Explained

by on March 1, 2006

There are some unfamiliar terms in the Multiple Listing System (MLS). It's helpful to understand these if you're either searching the MLS on line, or getting listings from your agent. A lot of agents don't even really understand some of the MLS terminology (particularly TOM and AWC). I'll try to explain some of them... "Active": If a listing is active, then it is available for sale and there … [Read more...]

What is a Fixture? Real Estate Term of the Week

by on January 28, 2006

=====Simply put, a fixture is something that is permanently attached to real property (a house). Things such as ceiling fans, chandeliers, towel racks, built in shelves, carpet etc.  Fixtures are always included in the sale of a home. The owner of a home can’t unbolt everything connected to a home before you take possession.Granted, a ceiling fan isn’t really “permanent”. … [Read more...]

New Real Estate FAQ, and HOW BOUT THOSE LONGHORNS!

by on January 8, 2006

 Greetings and Happy New Year! First, I must say CONGRATULATIONS to the University of Texas NATIONAL CHAMPION Football team!!  As a former UT student, I must say that was one heck of a season, punctuated by a stunning game against USC. I only wish I was back in Austin the night they lit the UT tower in brilliant burnt orange... … [Read more...]

What is Title Insurance?

by on December 31, 2005

===== Title Insurance.... it shows up on your closing settlement statement, it's hundreds of dollars, and most people have no clue what it is, why it's there or why they HAVE to buy it. (Well, you don't HAVE to buy it, if you're paying cash for your real estate. But if you are financing your purchase (like 99% of people do) then your lender will REQUIRE you to purchase title insurance to … [Read more...]

What is “Escrow”?

by on December 28, 2005

===== There are a whole bunch of terms specific to real estate. Given that most people buy and sell very few pieces of property in their lifetimes, learning the language of real estate isn't something the average person really cares to do with their time. In an effort to help educate you -- our astute reader -- we'll be providing a real estate term definition here at least weekly. Many … [Read more...]

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