What is Substitution in Real Estate?

When valuing a property, lots of different factors need to be considered. How can two homes which are perhaps next door to each other and seem so very similar, vary widely in the price? One way to determine this is using substitution in Real Estate appraisals. The principle of substitution is that the value of … Read more

What is Plottage in Real Estate? I’ve got the answer.

There are actually two terms that get confused frequently. Assemblage and Plottage. They are two real estate definitions that are commonly mixed up. Plottage is the increased value that is obtained when two or more parcels are assembled together. The process of joining adjacent independent plots is called Assemblage. In real estate, it is very … Read more

What does CTG mean in Real Estate?

Did you know there are over 500 MLS listing service organizations in America? That means there are a lot of different terms that can be used when houses get listed. CTG status means Contingent – that the house has accepted a contract but there are some Contingencies or parts of the contract that must be … Read more

Learn the Alta Settlement Statement vs HUD Differences

Understanding the ALTA Statement

As you enter the final days of Escrow, your settlement agent will provide you with disclosures to review before closing. This is the time when all the numbers finally come together for both the buyers and the sellers. Here we will Learn the Alta Settlement Statement vs HUD Differences, and why neither is required. Over … Read more

What is Active Contingent in Real Estate?

Did you know there are over 580 different Multiple Listing Systems (MLS) in America? And each of them has its own database and set of rules. There is no standard. As a prospective buyer, this can be confusing, so it is important to understand the MLS rules in the area you are looking for. One … Read more

What is a Straight Note in Real Estate

Although it might seem like a part of a music song, a straight note is a form of a promissory note. But exactly what type of loan is it? Straight notes are a type of mortgage note where you make interest-only payments for a short time, and then the entire principle is due. There are … Read more