Following the recent recession, interest in large and expensive homes dropped dramatically as home buyers showed preferences for smaller, more affordable homes. But house hunters are being attracted to luxury home features once again, as the affluent buyer steps back into the market. In July 2013, sales of homes costing more than $1 million rose 46.6 percent from the previous July.

“The housing market is being driven by the move-up buyer, the luxury buyer,” Brad Hunter, chief economist and director of consulting at Metro-study, told The New York Times. “And those who have strong incomes, secure jobs, their stock portfolio is doing well — they are able to buy whatever they want. And what they are buying is larger houses.”

In 2007, the median size

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So you are entering the real estate world? Whether you are trying to buy or sell a home (or do both!), you need to familiarize yourself with the lingo. You don’t want industry jargon to confuse you and keep you from missing something crucial. Here are 15 real estate buzzwords to keep you in the know.

Adjustable Rate Mortgage (ARM)

When applying for a home loan, you can get an adjustable-rate mortgage (ARM) or a fixed-rate mortgage. An ARM usually has a specific interest rate for a set time and then the interest rate fluctuates. Most of these mortgages have a cap on how high the interest rate may increase.

Amortization Schedule

First off, amortize basically means to reduce a debt. An amortization schedule is a

·         Total number of sales up 11%

·         Prices up 10.2%

·         Sales of $1,000,000 Homes up a whopping 45.2%!  

KIRKLAND, Wash. (Jan. 22, 2014) – Members of Northwest Multiple Listing Service reported 75,517 closed sales during 2013, surpassing the 2012 volume by around 11,000 transactions for an increase of nearly 17 percent. Measured by dollars, last year’s sales of single family homes and condominiums were valued at nearly $25.5 billion to outgain the previous year by more than $5.5 billion (up 27.4 percent).

• Last year’s completed sales included 65,122 single family homes and 10,395 condominiums, as tallied by nearly 21,000 real estate brokers in the 21 counties that make up the Northwest MLS service area. The total units and

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• Total number of sales up 11%

• Prices up 10.2%

• Sales of $1,000,000 Homes up a whopping 45.2%!  

KIRKLAND, Wash. (Jan. 22, 2014) – Members of Northwest Multiple Listing Service reported 75,517 closed sales during 2013, surpassing the 2012 volume by around 11,000 transactions for an increase of nearly 17 percent. Measured by dollars, last year’s sales of single family homes and condominiums were valued at nearly $25.5 billion to outgain the previous year by more than $5.5 billion (up 27.4 percent).

• Last year’s completed sales included 65,122 single family homes and 10,395 condominiums, as tallied by nearly 21,000 real estate brokers in the 21 counties that make up the Northwest MLS

Solaria Ducati, Licensed Assistant

• Office:  800-509-6905
• Cell:  310-922-8337
• Fax:   425-996-9523
• Email:  Solaria@thecascadeteam.com

We are happy to welcome Solaria Ducati to The Cascade Team!  Solaria will be joining our team as a Licensed Assistant.

About Solaria:  I had a wonderful experience working with the Cascade Team on the sale of my home in Sammamish which really sparked my interest real estate and I am very excited to be part of this team!  I have been home for the past few years raising my two kids who are now 8 and 5.  I relocated to Sammamish from Los Angeles where I had been working in film production for many years.  I love getting out on trails running or hiking around Tiger Mountain and doing hot yoga as often