Pop Quiz: Can You Define These Key Terms in Today’s Housing Market? [INFOGRAPHIC]

<article class="post-2277 post type-post status-publish format-standard has-post-thumbnail hentry" id="post-2277"><span class="entry-date">July 23, 2021</span><div class="entry-header center-block text-center"><h1 class="entry-title">Pop Quiz: Can You Define These Key Terms in Today’s Housing Market? [INFOGRAPHIC]</h1><div class="shareBlock"><div class="shareTitle">Share</div><div class="shareIcons"><a aria-label="Twitter Share Link" class="twitter solid display-inline-block" data-tracking="Post,Social Post Link Clicked,Twitter" href="http://twitter.com/share?text=Pop+Quiz%3A+Can+You+Define+These+Key+Terms+in+Today%E2%80%99s+Housing+Market%3F+%5BINFOGRAPHIC%5D&amp;url=https%3A%2F%2Fgilliggroup.com%2Fblog%2Fpop-quiz-can-you-define-these-key-terms-in-todays-housing-market-infographic%2F" target="_blank"><span class="force-hidden">Twitter</span></a>
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<h3><strong>Some Highlights</strong></h3>
<ul>
<li>The language of buying and selling a home may sound scary at first, but knowing how key terms relate to <a href="https://www.simplifyingthemarket.com/2021/07/22/todays-real-estate-market-explained-through-4-key-trends/?a=712984-fa409495d5d70154d03a25e81e9540e2">today’s market</a> can help you. For example, current low mortgage rates and higher wages positively impact <a href="https://www.nar.realtor/research-and-statistics/housing-statistics/housing-affordability-index">affordability</a> for buyers, while home price appreciation continues to grow <a href="https://www.ftc.gov/sites/default/files/documents/one-stops/real-estate-competition/realestateglossary.pdf">home equity</a>, which sellers can use to fuel a move up.</li>
<li>Terms like <a href="https://blog.firstam.com/15-real-estate-terms-you-should-know">appraisal</a> (what lenders rely on to validate a home’s value) and <a href="https://magazine.realtor/tool-kit/rookie/article/2020/02/real-estate-glossary#!">contingencies</a> (which buyers can minimize to make their offer stand out) directly impact the transaction.</li>
<li>You don’t need to be <a href="https://www.simplifyingthemarket.com/2021/06/14/the-right-expert-will-guide-you-through-this-unprecedented-market/?a=712984-fa409495d5d70154d03a25e81e9540e2">fluent</a> in the language of the market to buy or sell. Instead, let’s connect today so that we can translate the process together.</li>
</ul>
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