Explaining the Meaning of “Active Under Contract” Status
Definition of Active Under Contract When navigating the real estate market, it’s essential to understand the various terms and stages associated with a property’s status. One such term that often raises questions is “Active Under Contract.” We will explore the meaning of this real estate term, its significance for buyers, sellers, and real estate professionals, […]
How Redfin Works: Exploring its Innovative Real Estate Platform
Redfin, a vibrant splash of orange in the sea of traditional brick-and-mortar brokerages, is more than just another online real estate platform. It’s a revolution brewing, fueled by the belief that buying and selling homes shouldn’t feel like navigating a financial labyrinth. With technology as its compass, Redfin boldly redefines the real estate experience, aiming […]
What is a Buyer’s Agent Fee and who Pays it
Quick Answer When purchasing a property, the buyer usually pays fees to their real estate agent for their assistance throughout the process. These fees are typically a percentage of the purchase price and are agreed upon between the buyer and agent at the start. However in many states. the proceeds are paid by the seller […]
Can I Trust Realtor.com’s Property Valuation Estimate
Quick Answer Realtor.com estimates are most accurate in markets with a high number of sales, with an accuracy rate of over 95%. The accuracy of Realtor.com estimates is higher in markets where the median home value is over $200,000, with an accuracy rate of over 90%. In markets with a median home value of less […]
The Science Behind Zillow’s Zestimate Accuracy
Quick Answer According to Zillow, the nationwide median error rate for the Zestimate for on-market homes is 2.4%, while the Zestimate for off-market homes has a median error rate of 7.49%. When it comes to buying or selling a home, one of the first things that often comes to mind is the price. Determining the value […]
Zillow’s “Active” Explained
Quick Facts The term “active” on real estate websites like Zillow usually refers to properties that are currently available for sale or rent. If a listing is marked as “active,” it means that the property is actively on the market and potential buyers or renters can inquire about it. Zillow has established itself as a […]
Looking to Build a Tiny House? Find Out the Average Cost
What is a Tiny House A tiny house is a small, compact living area that typically ranges from one hundred to four hundred rectangular feet. It is designed to offer all the vital services and functionality of a conventional home but on a far smaller scale. The tiny residence movement has received great popularity in […]
What Legal Rights Do Sellers Have with Earnest Money
When dealing with real estate, one term that crops up is an “earnest money deposit.” But what exactly is an earnest money deposit, and why is it important? The Role of Earnest Money Deposits: An earnest money deposit serves as a form of security for both buyers and sellers. It demonstrates the buyer’s commitment to […]
What is a CMA in real estate and how is it used
Quick Answer A CMA stands for Comparative Market Analysis and is a report used to compare a property’s value to similar properties in the same area. A CMA is typically prepared by a real estate professional, such as a real estate agent or appraiser. The report includes information on the property being analyzed, as well […]
Common reasons why Houses Come Back on the Market
Quick Answer Houses can come back on the market for a variety of reasons, such as the seller not being able to find a buyer, the seller changing their mind, or the seller not being able to close on the sale. Another a house may come back on the market is that the buyer was […]