| A | B |
|---|
| Adjustable rate mortage (ARM) | A mortgage for which the interest rate is raised or lowered periodically depending upon the current interest rate being charged by lenders. |
| appraiser | One who is trained to estimate the value of property and who can give an official report on its value. |
| appreciation | A general increase in the value of property that occurs over a period of time. |
| assessed value | The amount that your local government determines your property to be worth for tax purposes. |
| collectibles | Items of personal interest to collectors purchased in anticipation of an increase in value in the future. |
| condominium | An individuallly owned unit in an apartment-like building or complex where maintenance and yard work are normally taken care of for a service fee. |
| equity | The difference between what your house and property are worth and the amount owed on the mortgage. |
| fixed rate mortage | A traditional mortgage with an interest rate that does not change during the life of the mortgage. |
| futures | A contract for a commodity purchased in anticipation of higher market prices in the near future. |
| mortage | A legal document giving the lender a claim against the property if the principal, interest, or both are not paid as agreed. |
| real estate | Land and anything that is attached to it. |
| Realtor | Someone who is trained and licensed to help with the buying and selling of real estate. |
| speculative investment | An investment that has an unusuallly high risk. |
| spot price | The price quoted for precious metals in the world markets. |
| upkeep | The cost of maintaininig your property in good condition. |
