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Featured Properties


[click image for info]

$249,900
3420 TOPSIDE RD
Knoxville, TN

Finished Basement, Hardwood Floor, Tile Floor, Basement Rec Room, Cathedral Ceiling, Microwave, Office/BR Main Level, Range/Oven, Refrigerator, Walk-in-Closets, Whirlpool/Tub, Bedroom 2 is 16 x 16, ..[more]




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$250,000
204 E. Oklahoma
Knoxville, TN

Real Estate at its best! This is a beautiful Knoxville property!..[more]




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$339,900
9709 Hawfinch Lane
Knoxville, TN

Real Estate at its best! This is a beautiful Knoxville property!..[more]




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$339,900
1709 ROYAL HARBOR
Knoxville, TN

Carpet, Hardwood Floor, Tile Floor, Breakfast Room, Dishwasher, Disposal, Microwave, Pantry, Range/Oven, Smoke Detector, Bedroom 2 is 13.6X13...[more]


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TOPICAL REAL ESTATE DICTIONARY



Top 20 Terms
Agents
Buying
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Inspection
Law
Financing
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Taxes/Insurance
Taxes/Insurance

assessed value
A tax assessor's determination of the value of a home in order to calculate a tax base.

capital gains tax
A tax placed on profits from the sale of real estate or investments.

conveyance tax
A tax imposed on the transfer of real property.

earthquake insurance
A policy that provides coverage against damage to a home from an earthquake.

flood insurance
Hazard coverage that is required in designated flood areas.

homeowner's insurance
This insurance includes hazard coverage for any damages that may affect the value of a house, in addition to personal liability and theft coverage.

home warranty
A type of insurance that covers repairs to certain parts of a house and some fixtures.

insurance
Owners and buyers can purchase various types of insurance including hazard, private mortgage, and earthquake. The policies guarantee compensation for specific losses.

mortgage-interest deduction
The tax write-off that the Internal Revenue Service allows most owners to claim for annual interest payments made on real estate loans.

passive loss
A tax term that refers to any loss from a passive activity, such as the ownership but not the operation of a piece of rental real estate.

property tax
Tax paid on privately owned property. Property taxes are usually paid semiannually, or monthly if the lender requires. The amount is based on local tax rates and assessed property value.

property tax deduction
The U.S. tax code allows homeowners to deduct the amount they have paid in property taxes.

tax deduction
A tax break given by the government. Mortgage interest, loan points, and property taxes can be deducted.

tax lien
A lien placed against a property for nonpayment of taxes.

tax shelter
A term often applied to real estate investment, referring to various tax advantages.

title insurance
A policy issued to lenders and buyers to protect against loss due to disputed property ownership.

transfer tax
An assessment by state or local authorities at the time a piece of property changes hands.

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