Pop Quiz on Key Real Estate Terms

Here's a fun little pop quiz to check your general real estate knowledge ...

How did you do? Let me know if you have any follow up questions.

Phrase of the Week

Opportunity Cost

In microeconomic theory, the opportunity cost of an activity or option is the loss of value or benefit that would be incurred by engaging in that activity, versus engaging in the alternative activity. For example, the opportunity costs of renting a home are the benefits accrued in the buying process (e.g., tax benefits, equity, ownership benefits). On the other hand, the opportunity costs of buying are the initial down payment and closing costs, potential repair and upkeep expenses and less flexibility. Generally speaking, the opportunity costs of renting outweigh the opportunity costs of buying.

Useful Links

It seems silly, but the color or your door can go a long way to selling your home quickly at a great price. I know the market remains hot, but this article provides some insight on what color is best to maximize your home’s appeal.

As we get older, the clock of our lives appears to speed up. In fact, scientists have shown how this happens. Want to slow it down? Here are some interesting ideas.

Finally, I think it is fair to argue that we are all striving for happiness. But what does happiness even look like? The Atlantic points out here that there is more than one model and thus more than one route to finding it.

Stay safe, stay well and continue to search for those rainbows in the clouds.

Cheers,

Rich