DETROIT (WWJ) – I laughed out loud when I read the initial comments on a listing ticket the other day: “Welcome to 1941” read the opening comments.
Yes, the house was dated. The real estate agent was giving a clear indication that there was some cosmetic updating to do.
It made me think of some of the special words and phrases that are part of the ‘real estate speak’, and a decoder ring might just be in order. Here are a few:
Investor Special: It’s cheap. They want it sold fast, it may not be the ideal family home, but how about picking up a rental?
Great Starter Home: Again, probably cheap, and most likely pretty small.
Investment In Land: Watch out! There’s a ton of work to do in this house unless you plan to tear it down and rebuild.
I’m Beautiful Inside: The house may be on a busy street or may not have the most curb appeal (good-looking from the outside) but don’t let this steer you away. Come in and take a look, the agent thinks you won’t be disappointed.
Needs Work: We’re not talking about paint and carpet here. There may be a kitchen missing or boxes floating in the basement. This is the catch-all phrase that means roll-up your sleeves and plan to dig deep into your pockets to fix this one up.
Honey, Stop The Car!: The agent thinks once you step in, you’ll know you’ve found your forever home. This home will soon be part of your happily ever after.
If you’ve searched for a home at any time, you’ve most likely run across of few of these, and very likely a variety of other gems. Feel free to share.
Of course, if you are in the hunt for a home be sure to have it professionally inspected, and it’s always suggested to have an attorney look over your purchase agreement, it’s probably the biggest investment you’ll make.
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