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A house price index (HPI) measures the price changes of residential housing as a percentage change from some specific start date (which has an HPI of 100). Methodologies commonly used to calculate an HPI are hedonic regression (HR), simple moving average (SMA), and repeat-sales regression (RSR).
It was inadequate for that purpose. In particular, if the price of any of the constituents were to fall to zero, the whole index would fall to zero. That is an extreme case; in general the formula will understate the total cost of a basket of goods (or of any subset of that basket) unless their prices all change at the same rate.
Title issues are not common, but if the title search uncovers one — or if it doesn’t, but one comes up later — there can be considerable legal costs. This is where title insurance comes in.
A full coverage search is usually done when creating a title report for sale/resale transactions and for transaction that involves construction loans. It generally includes searches related to property lien, easements, covenants, conditions and restrictions(CC&Rs), agreements, resolutions and ordinances that will affect the real property in question.
The price to conduct the title search alone often ranges between $75 and $100, or sometimes up to $200, and can be paid for by either the buyer or the seller (who covers this fee is often negotiated).
Assuming our example income of $5,638 per month, in order to purchase that same house for $350,000, the monthly income would have to be $6,482 per month adjusting for total monthly liabilities ...
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