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REAL ESTATE TERMS AND DEFINITIONS
Negative amortization
Some adjustable rate mortgages allow the interest rate to fluctuate independently of a required minimum payment. If a borrower makes the minimum payment it may not cover all of the interest that would normally be due at the current interest rate. In essence, the borrower is deferring the interest payment, which is why this is called "deferred interest." The deferred interest is added to the balance of the loan and the loan balance grows larger instead of smaller, which is called negative amortization.
No cash-out refinance
A refinance transaction which is not intended to put cash in the hand of the borrower. Instead, the new balance is caculated to cover the balance due on the current loan and any costs associated with obtaining the new mortgage. Often referred to as a "rate and term refinance."
No-cost loan
Many lenders offer loans that you can obtain at "no cost." You should inquire whether this means there are no "lender" costs associated with the loan, or if it also covers the other costs you would normally have in a purchase or refinance transactions, such as title insurance, escrow fees, settlement fees, appraisal, recording fees, notary fees, and others. These are fees and costs which may be associated with buying a home or obtaining a loan, but not charged directly by the lender. Keep in mind that, like a "no-point" loan, the interest rate will be higher than if you obtain a loan that has costs associated with it.
Note
A legal document that obligates a borrower to repay a mortgage loan at a stated interest rate during a specified period of time.
Note rate
The interest rate stated on a mortgage note.
Notice of default
A formal written notice to a borrower that a default has occurred and that legal action may be taken.
 
NATIONAL HOUSING INDICATORS
Homeownership Rate
Release Jan 31, 2017
New Residential Sales
Release Mar 23, 2017
592,000
+6.1%
Rental Vacancy Rate
Release Jan 31, 2017
Homeowner Vacancy Rate
Release Jan 31, 2017
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NEIGHBORHOOD DEMOGRAPHICS
HOUSING STATISTICS
Features the total number of households, homeownership rate, citizenship status, median housing price, median income, education level and poverty level.
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AREA CRIME RATE
The total rate of violent crime for the population, including details on homicide, forcible rape, aggravated assault, burglary robbery, vehicle theft, and murder rates.
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SCHOOL INFORMATION
A school score card reports on individual school performance, student's reading and math ratings, in comparing the county and state averages. Read more >
LOCAL RENTAL STATISTICS
Provides information on the neighborhood rental market, including rental rates, rental price based on number of bedrooms and current rental rate. Read more >
local crime report
NEARBY SALES ANALYSIS
Provides the local sales within price ranges, price per square footage, number of bed(s)/bath(s) and total number of homes sold within each price range.
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local school information
LISTING & TRENDING ANALYSIS
An analysis of the housing market reports on locale as a buyer's or seller's market. Also features a market-trending indicator. Read more >