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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 Trivia
Q 
Where and when was the first motel introduced on the American commercial real estate scene?

A 
The first motel, appropriately named the "Motel Inn", opened in San Luis Obispo in 1925.
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The Frank Peoples Team, REALTOR®, real estate agents and broker for Mobile, Saraland and Daphne, Alabama home listings, property and land for sale - NUMBER1EXPERT(tm)

The Frank Peoples Team
Keller Williams

6333 Cottage Hill Rd.
Mobile, AL. 36609
Phone: 251-662-5660
Fax: 251-660-5088
Email: Frank@FrankPeoples.com

Frank & Carolyn Peoples have built their Real Estate career of over 15 years on offering excellent customer service and a true concern for the welfare of their clients. Staying in contact with customers and offering their listings the most cutting-edge in marketing makes them one of the most sought-after realtors in the Mobile area. They are proud to call Mobile home for 27 years and are excited over the upcoming economic growth about to explode in the Mobile area. They are eager to welcome you to Mobile and await the opportunity to serve you and your Real Estate needs.

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