If you understand these terms, you can understand our housing market.
If you’ve kept up on housing news recently, you may have come across terms like “appreciation”, “depreciation”, and “deceleration” and wondered what they mean. These phrases may be coming up because our market is changing, and as a result, home prices aren’t acting like they have been over the last few years. That’s why today we’re defining all these real estate terms and explaining how they relate to our current market.
You can listen to our full explanation in the video above or skip to each topic using the timestamps provided:
0:00 — Introduction
0:29 — What is appreciation?
1:14 — Appreciation over the last few years has been abnormally high
1:38 — What is depreciation?
3:00 — What is deceleration?
3:46 — Zillow isn’t a great place to find the value of your home
4:18 — What is amortization?
5:21 — Wrapping up today’s topic
If you have questions about these terms or how they relate to your situation, please call or email us. Don’t forget to share this video with anyone who might find it helpful. We look forward to hearing from you!