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Ep204 The ABC's of Real Estate
Manage episode 418553096 series 3564174
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If you have listened to this podcast for long enough, you know that it’s no secret that Jason will many times use acronyms that might leave you scratching your head asking yourself, “What the hell does that acronym stand for?!” Well, you’re in luck, because today, we breakdown and explain what some of the top acronyms in the real estate world stand for so you can be more educated the next time you go to buy/sell a home! TALKING POINTS (3-5):
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- Introduction
- Real Estate Acronyms Real Estate Associations:
- NAR (National Association of Realtors)
- PAR (Pennsylvania Association of Realtors)
- RAMP (Realtors Association of Metropolitan Pittsburgh)
- MLS (Multiple Listing Service)
- CMA (Comparative Market Analysis)
- BPO (Broker’s Price Opinion)
- BRI (Buyer’s Reply to the Inspection)
- CTA (Change in Terms Addendum)
- LTV (Loan-to-Value)
- APR (Annual Percentage Rate)
- DTI (Debt-to-Income Ratio)
- PITI (Principal, Interest, Taxes, & Insurance)
- ARM (Adjustable-Rate Mortgage)
- PMI (Private Mortgage Insurance)
- FHA (Federal Housing Administration)
- VA (Veteran’s Affairs)
- ARV (After Repair Value)
- CC&R (Covenants, Conditions, & Restrictions)
- POA (Power of Attorney)
- REO (Real Estate Owned)
- Final thoughts
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