A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

H

Hazard insurance	Insurance protection for specified losses due to natural causes, such as fire, floods, earthquake, tornadoes, and other "acts of God"
Heir	An individual who will potentially inherit an interest in land from someone who dies
Hiatus	A gap or space between two parcels of lands that is not included in the legal description of either parcel
Home equity line of credit, or Home equity loan	A mortgage loan (usually not the primary mortgage) or line of credit which gives the property owner the option to obtain cash advances from the loan proceeds, using his or her residence as collateral, but which is not to exceed a pre-arranged amount of the owner's total equity in the property
Homeowners' association	A nonprofit association of individual owners of units in a multi-unit structure (either a planned unit development, or a condominium) that manages the common areas of that structure. In a planned unit development (PUD) project, the association holds title to the common elements, whereas in a condominium project, it holds no title to the common elements
Homeowner's insurance	An insurance policy available to residential real estate owners that protects homeowners against financial loss from fire, theft, public liability, and other risks
Homestead	Real estate that is owned and utilized as the primary family residence, protected in some states as exempt from the claims of creditors
Homestead deed	A document filed in the land records asserting a homestead exemption, protecting a variable amount of his assets (depending on which state) against the claims of creditors
Housing ratio, or Debt-to-income ratio	The percentage that results from dividing a borrower's housing expenses by his/her gross monthly income, used by the lender to evaluate an applicant's qualification for a loan
HUD-1 statement	The document used in closing a real estate transaction (also known as a "closing statement" or a "settlement sheet") which itemizes the funds that are payable at closing, including broker commissions, loan costs, and escrow amounts, and which provides a summary of the seller's net proceeds and the buyer's net payment at closing. It is required by the US Department of Housing and Urban Development (HUD) whenever federally-related mortgages are being made on residential properties

A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

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Real Estate Tips

First Time Buyers >A Good Start

When a real estate agent begins to work with a new buyer, we will sit down with you, ask a number of questions, and listen carefully to your answers. Our purpose during this initial interview is to get a clear idea of what kind of property you are looking for and your approximate price range. We explain how we will function as your representative, what the local market is like, and what we can do to help you locate that perfect home.

It is important for you as a prospective buyer to be as clear as possible about your needs. After we have talked and you have decided how much you can comfortably spend, we will know how to facilitate your home search. We won't take you through a three-story colonial with a top floor master suite if you want to avoid climbing up and down stairs! Establishing clear communication with our clients helps us save you hours of unfocused house hunting.

	See All Tips In The "First Time Buyers" Category >
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Real Estate Trivia

Q	In what real estate market are more than 90 percent of home sales cash transactions?
A	Palm Beach, home to princes, politicians, and CEOs, has homes from 2,000 sq.ft. condos to 56,000 sq.ft. estates.
See More Real Estate Trivia >

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Celia Simmer and Elke Simmer TRAPP REALTORS 3321 Cedar Heights Dr. Cedar Falls, Iowa 50613 Cell: 319-240-4337 or 240-3034 Toll Free: 877-292-2121 Office: 319-277-2121 ext 204 Fax: 319-277-2127 Email: Celia@CF4Sale.com Email: Elke@cfu.net Are you interested in buying or selling real estate in Waterloo or Cedar Falls, Iowa? If so, you've come to the right place! My name is Celia Simmer, and for the last 15 years, I've specialized in helping my clients find the perfect home or commercial space in beautiful Black Hawk County. Elke Gerdes, my daughter, and I would like you to allow us to be your guides. Want to invest in housing for your University of Northern Iowa student? Need school information from this area? As a life-long residents and graduates of UNI, we know the town and its market. We've worked with buyers in Waterloo and Cedar Falls; Denver, Dike, Hudson, and Wavery. Introducing people who are relocating to this area is easy for us, having been raised here ourselves and raising our children here. We take great pride in providing top quality real estate service and first class performance. www.CedarFalls4Sale.com is brought to you by Celia Simmer & Elke Simmer Gerdes, real estate for Cedar Falls and Waterloo, Iowa Read Celia Simmer & Elke Simmer Gerdes' Privacy Guarantee, Terms of Service, and Free & Without Obligation Pledge

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