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Majority |
The age at which an individual is legally
entitled to handle his or her own affairs |
|
Margin |
The amount added to the index on an
adjustable-rate mortgage (ARM) that establishes the adjusted interest rate at a
given time |
|
Market value, or Fair market
value |
The most likely price that a piece of property
or home can realistically be sold for, and is dependent on the selling price of
similar real estate in the area |
|
Marketable title |
A clear, unencumbered title, reasonably
acceptable without the threat of the risk of litigation |
|
Maturity |
The date on which the principal balance of a
loan, bond, or other financial commitment is due and payable |
|
Mechanic's lien |
A lien created by statute to allow unpaid
contractors, laborers or suppliers who have performed work on or furnished
materials for the construction of a building to recover the value of their
work |
|
Metes and Bounds |
Means for describing property by a set of
directions and distances, when there isn't identification based on a surveyed
lot number |
|
Minor |
An individual below the age at which he or she
is legally entitled to handle his or her own affairs |
|
Monument of Survey |
le indications made on natural or man-made
objects that indicate the boundaries of a survey |
|
Mortgage |
A legal document that pledges a property to the
lender as security for the payment of a loan or debt |
|
Mortgage broker |
An individual or company that acts as an agent
between borrowers and lenders for the purpose of arranging and negotiating
mortgage contracts; who is paid a fee for such service |
|
Mortgage insurance |
A contract that guarantees the lender against
loss caused by a mortgagor's default on a government or conventional mortgage;
such insurance can be issued by a private company or by a government agency,
and covers either only a percentage, or the total, of the mortgage
loan |
|
Mortgagee |
The lender in a mortgage
transaction |
|
Mortgagor |
The borrower in a mortgage
transaction |
|
Multiple-listing service
(MLS) |
An organization of brokers who share their
listing agreements with one another in order to find buyers for their
properties more effectively than they could individually |
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Did We Miss the Word YOU Are Looking For? Is there a real estate word that we failed to explain here in our dictionary for homebuyers and sellers? Let us be your personal real estate dictionary! We'll send a brief explanation of any word or term that you encounter when buying and selling property. Do you have a suggestion of a real estate word that should be included? Let us know! We always appreciate feedback. Do any of these definitions raise questions for you? Didn't find the word you're looking for? Let us know! We're happy to answer ANY questions. It's our job! There's no obligation, and we promise to get back to you quickly...
| Q |
What price range is considered upscale or high-end in residential real estate?
|
| A |
The price range varies depending on the local market, but upscale homes are in the top 10% of an MLS area's annual home sales. |
 See More Real Estate Trivia > |
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Eric Burch and Ann Burch
Burch & Co. Real Estate
PO Box 16367
Jonesboro, AR 72403
Eric's Cell: 870.919.4968
Ann's Cell: 870.243.1332
Office: 800.440.0976
Fax: 800.440.0976
Main E-Mail: team@ericburch.com
The name Eric Burch is synonymous with excellence in the Jonesboro real estate market. In our first four years, we have closed over 60 million in real estate transactions. For 2010, our team was named the Overall Top Sales Team for Jonesboro. And Eric has been voted Jonesboro's Local Favorite Real Estate Agent three years in a row. Eric has definitely made a name for himself and his numerous awards and increasing sales numbers are proof that he and his team are willing to go that extra mile for their clients. With The Eric Burch All Star Team you are not getting just one realtor. You are getting a whole team on your side. This team consists of four realtors, a marketing specialist and a virtual assistant. Eric's wife, Ann, is an associate broker and works as Eric's full-time assistant and closing agent. We have three other agents specializing in working with buyers, Richard Wimberley, Shane McBride and Ricardo Marino. Scott Throgmartin is our personal builder, working to build nice spec and custom homes. We also have two licensed assistants. Connie Mauppins works as our transaction coordinator and Jennifer Jones is our seller coordinator, marketing specialist and helps with listing maintenance. This team has proven success and is willing to work hard for you. Give us a call today!    
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