Raymond Mosby - Keller Williams GCSE

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http://app.kw.com/KW2LD5E0K

Equity
The residual claim or interest of the most junior class of investors in assets, after all liabilities are paid. If liability exceeds assets, negative equity exists.

Appraisal
A written justification of the price paid for a property, primarily based on an analysis of comparable sales of similar homes nearby.

FHA is increasing it's monthly mortgage insurance again.
Currently on most FHA loans the premium is .90% effective with case numbers issued April 18th 2011 the new annual premium will become 1.15%
This equates to approximately $20.83 more per month on a $100,000.00 loan.
This could reduce the amount of house your client can afford FYI

Amortization-
The loan payment consists of a portion which will be applied to pay the accruing interest on a loan, with the remainder being applied to the principal. Over time, the interest portion decreases as the loan balance decreases, and the amount applied to principal increases so that the loan is paid off (amortized) in the specified time.

There comes a special moment in everyone's life, a moment for which that person was born. That special opportunity, when he seizes it, will fulfill his mission — a mission for which he is uniquely qualified. In that moment, he finds greatness. It is his finest hour.

Every day, you'll have opportunities to take chances and to work outside your safety net. Sure, it's a lot easier to stay in your comfort zone.. in my case, business suits and real estate.. but sometimes you have to take risks. When the risks pay off, that's when you reap the biggest rewards.
Donald Trump

What is the appraised value?

Appraised value of a house is a certified appraiser's opinion of the worth of a home at a given point in time. Lenders require appraisals as part of the loan application process; fees range from $200 to $300.

What is the market value?

Market value is what price the house will bring at a given point in time. A comparative market analysis is an informal estimate of market value, based on sales of comparable properties, performed by a real estate agent or broker. Either an appraisal or a comparative market analysis is the most accurate way to determine what your home is worth.

The Path Home - CENTURY 21® Real Estate LLC - 2008 TV AD CENTURY 21® Real Estate LLC The theme of these ads is unique, compelling and distinctively ours: "Now, more than ever, your CENTURY 21® agent is your path home." "Now, more than ever..." acknowledges the fear and uncertainty in the market in a positive way. We recognize the risk, but use it