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According to an article published by the Associated Press today, the National Association of Home Builders claims some interesting economic effect for each home built. Their report says that each home built accounts for three jobs for one year and means $90,000 in various tax revenues. More about Home Builders and their end-of-year permit rush at msnbc.com. |
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What is a Home Warranty?
A home warranty is a service contract, normally for one year, which helps protect home owners against the cost of unexpected covered repairs or replacement on their major systems and appliances that break down due to normal wear and tear. Coverage is for systems and appliances in good working order at the start of the contract.
What is a Short Sale?
If a home is being sold for below what the current seller owes on the property—and the seller does not have other funds to make up the difference at closing—the sale is considered a short sale. A short sale is different from a foreclosure, which is when the seller's lender has taken title of the home and is selling it directly. Homeowners often try to accomplish a short sale in order to avoid foreclosure.
