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Real Estate Terms
Use this real estate glossary to research terms you might run across in a real estate transaction.

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Ad valorem	A method of taxation using a fixed proportion of property value; for example, real estate taxes collected at the rate of a specific dollar amount of appraised value or assessment. People use the ad valorem method as a formula to decide how much tax to pay the government. A commonly used formula for computing taxes is as follows (assumptions: properties are assessed at 25\% of valuation, appraisal is $100,000 and the tax rate is $7.50 per $100): $100,000 x 25\% = $25,000 1?2 $100 = 250 ($100 units), 250 x $7.50 = $1,875 1?2 12 (12 months) = $156.25 per month

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"We are so glad we used Molly to sell our home! She was a joy to work with, and helped make the whole process flow very smoothly. Because of her experience in different real estate markets, she was able to give really good insight, and lead us in the right direction. She was extremely personable, professional, and always kept us informed on what was going on. We felt like she really cared about us and understood our needs and wants. I would recommend using Molly to anyone!"
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