ESL Vocabulary: ( Real Estate )
1. Buyer’s Market: A Buyer’s Market is going to be ideal for someone who is looking to buy a house.
2. Seller’s Market: A Seller’s Market describes a period in time where it is better to be someone selling one’s home rather than attempting to buy one.
3. Appreciation: This is how much the home or property increases over time based on a few things such as home improvements, location, market fluctuation, and so on.
4. Equity: This is how much of the property or home the homeowner truly owns at the moment.
5. Foreclosure: A foreclosure occurs when a property owner is unable or has not made the previously agreed-upon payments for their mortgage.
6. Amortization: This is the amount of loan debt that decreases over time. This is achieved through the repayment of the principal.
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