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Real Estate Dictionary
Welcome > Resources > Real Estate Dictionary - A

A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

N

NATIONAL ASSOCIATION OF REALTORS® (NAR)

A real estate trade organization that sets the standards for integrity and honesty within the real estate profession nationwide

Negative amortization

A gradual increase in the balance of a loan or mortgage which occurs because the monthly payments made are too small to cover the entire principal and interest charges; this shortfall amount is added to the remaining balance, resulting in negative amortization

Net listing

The advertisement of the price of property for sale in terms of the net price the seller will receive, once the property is sold, a type of listing which is illegal in many states

Net worth

The total value of all of an individual's assets, minus all liabilities or debts

No cash-out refinance

A transaction for refinancing a mortgage in which the new mortgage amount is limited to the sum total of the remaining balance of the first mortgage, points, closing costs, whatever is required to satisfy any liens that are more than one year old and other funds for the borrower's use (as long as the amount is one percent or less of the principal amount of the new mortgage)

Notary

An individual authorized by law to certify documents and signatures

Note

A legal document that obligates a borrower to repay a loan or owed sum of money at a stated interest rate over a designated period of time

A B C D E F G H I J K L M N O P Q R S T U V W X Y Z



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Real Estate Tips
Remodeling and Renovations >Do Not Over Improve

You have received some extra money! You want to remodel! If you are planning a major renovation, take a few sensible precautions before having plans drawn up and signing on the contractor's dotted line.

Any time you do any significant remodeling, you run the risk of over-improving your home. Please call or send an email if you are interested in a market analysis of what your home is currently worth. We can talk about neighborhood trends and discuss the recent sales of homes in your area.

If your neighborhood is experiencing healthy appreciation, making major changes to your home might make sense. However, if there is not much difference between the prices of remodeled homes and those which have not been renovated, expensive changes may be hard to recover if you sell your home soon. Please call or send an email to get help deciding if remodeling and renovations are in your best interest.

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Real Estate Trivia
Q 
What famous $40+ million home has a 60-foot pool with underwater music and a 20-car garage?

A 
The home of Bill Gates, co-founder of Microsoft, features the latest futuristic computer technology.
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Joyce Barnwell, REALTOR®, real estate agent and broker for Wilmington, Carolina Beach and Kure Beach, North Carolina home listings, property and land for sale - NUMBER1EXPERT

Joyce Barnwell
Intracoastal Realty

1206 N. Lake Park Blvd.
Carolina Beach, NC 28428
Tel: 910-617-7654
Fax: 910-458-7759
Email: joycebarnwell@NUMBER1EXPERT.com

Residing in the peaceful coastal community of Carolina Beach, I’m a licensed North Carolina Realtor with over 30 years real estate experience and 20 years owning my own real estate company, faithfully serving the unique real estate needs of buyers, sellers and investors. I specialize in the listing and selling of residential pre-existing homes, newly constructed homes, waterfront property, golf course property, investment property, condos and duplexes as well as lots for sale in and around North Carolina’s New Hanover County coastal communities of Wilmington, Carolina Beach, Kure Beach, Wrightsville Beach and Figure Eight. Thanks again for visiting my site and don’t hesitate to call me direct at 877-617-7654.

CRB CRS Equal Housing GRI MLS REALTOR SRES


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