Real Estate Listings Decoder

Planning to do a little house hunting this weekend?  Grab your local newspaper, or browse any real estate website, and you’ll find the market is filled with real estate listings.  The best real estate agents are also great marketers, and they know the language to include in listings to generate interest in their properties.  As buyers, it’s imporant to be able to decode some of these common phrases found in real estate listing to reveal the truth behind the listing.

Photo courtesy of dno1967

Eight Common Real Estate Listing Buzzwords/Phrases

“Cute, cute, cute.”
Translation:  Probably too small for most families. In the world of real estate listings, the word “cute” literally translates to small.”  If you are looking to downsize this might be a listing to check out.

“Super investment potential”
Translation:  I doubt you would want to live here, but I’m sure you could find a willing tenant.  Property listings with “investment potential” often require some work to make them move-in ready, so unless you want to toss in a little sweat equity you may want to steer clear of these.

“Needs a little TLC”
Translation:  The foundation is sinking, the walls are cracked, the house has mold, needs paint, or all of the above.  TLC usually means trouble, and it can range from the worst kind of trouble (foundations, roofs, etc.) to simple lipstick upgrades (paint, landscaping, etc.).

“As is”
Translation:  Get a thorough inspection before entertaining any idea of purchasing this home.  “As is” means just what it says – no warranty, no guarantee, and probably only a bare-bones disclosure of any problems to satisfy real estate law requirements.

“Perfect starter home”
Translation:  Starter homes are usually small, on small lots, and with basic features.  It’s true they’re great for new couples, or those looking to get out of the rental game.  If you are 30 years old with two kids, two cars, and a bunch of stuff, chances are you simply won’t “fit” into a starter home.

“Cozy backyard”
Translation:  Cozy backyards are often not much larger than a postage stamp. If you have kids and a pet, or enjoy gardening and summer cookouts, you probably ought to skip this listing.

“Motivated seller”
Translation:  The words “motivated seller” are traditionally used to send the signal that the current homeowners are ready to unload their property because they are moving, ready to buy another home, or simply cannot afford their mortgage payment. Either way, potential buyers may have luck asking for concessions such as the seller pays closing, or a carpet allowance, etc.  If sellers are really motivated they will likely be more willing to negotiate.

“This one won’t last long”
Translation:  This phrase reminds me of those infomercials that say, “If you call within the next 90 minutes we’ll send you two salad spinners for the price of one!”  The phrase is used to create a sense of urgency, and most of the time it is used for prime properties that agents know will show well.  If it appears to be a real estate listing that interests you, play along and schedule a showing soon.