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REAL ESTATE TERMS AND DEFINITIONS
Tenancy in common
As opposed to joint tenancy, when there are two or more individuals on title to a piece of property, this type of ownership does not pass ownership to the others in the event of death.
Third-party origination
A process by which a lender uses another party to completely or partially originate, process, underwrite, close, fund, or package the mortgages it plans to deliver to the secondary mortgage market.
Title
A legal document evidencing a person's right to or ownership of a property.
Title company
A company that specializes in examining and insuring titles to real estate.
Title insurance
Insurance that protects the lender (lender's policy) or the buyer (owner's policy) against loss arising from disputes over ownership of a property.
Title search
A check of the title records to ensure that the seller is the legal owner of the property and that there are no liens or other claims outstanding.
Transfer of ownership
Any means by which the ownership of a property changes hands. Lenders consider all of the following situations to be a transfer of ownership: the purchase of a property "subject to" the mortgage, the assumption of the mortgage debt by the property purchaser, and any exchange of possession of the property under a land sales contract or any other land trust device.
Transfer tax
State or local tax payable when title passes from one owner to another.
Treasury index
An index that is used to determine interest rate changes for certain adjustable-rate mortgage (ARM) plans. It is based on the results of auctions that the U.S. Treasury holds for its Treasury bills and securities or is derived from the U.S. Treasury's daily yield curve, which is based on the closing market bid yields on actively traded Treasury securities in the over-the-counter market.
Trustee
A fiduciary who holds or controls property for the benefit of another.
Truth-in-Lending
A federal law that requires lenders to fully disclose, in writing, the terms and conditions of a mortgage, including the annual percentage rate (APR) and other charges.
Two- to four-family property
A property that consists of a structure that provides living space (dwelling units) for two to four families, although ownership of the structure is evidenced by a single deed.
Two-step mortgage
An adjustable-rate mortgage (ARM) that has one interest rate for the first five or seven years of its mortgage term and a different interest rate for the remainder of the amortization term.
 
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 >