Tag Archives: Real Estate Terminology

What Do Those Home Selling Terms Even Mean?

Real estate lingo can be hard to decipher because, well, there’s so much of it! It might even seem like your Realtor is speaking another language.

From fancy acronyms to words like “escrow” and “riders,” there are a lot of terms out there that might seem totally foreign. But that doesn’t mean you don’t have to know what they mean!

If you’re in the process of selling your home, here are a few real estate acronyms you really should know.

CMA: Comparative Market Analysis

Man's hand resting on the mouse pad of a silver laptop.A comparative market analysis is a great way to research the market and find out what homes in your neighborhood are selling for. It’s an in-depth report that lists the prices of sold homes that are similar to your home (otherwise known as “comps” or “comparables”).

CMAs provide information about homes that were recently sold, home that are currently on the market, and homes that were on the market but were not sold within the listing period.

FSBO: For Sale By Owner

Home sellers who opt not to use a Realtor will list their home as For Sale By Owner. This simply means the homeowner is selling their home without the help of a Realtor and is taking on all the responsibilities of selling their home.

When you choose to sell without a Realtor, you may be saving money on their commission fee, but you’re taking on a lot of additional work and responsibility. Plus, you may end up losing money in the long run if you don’t know how to stage and photograph your home, market it effectively, or price it correctly and competitively.

Escrow

Escrow refers to a number of documents, payments, and other material that are held by a third party. Once you’ve negotiated the sale of your home with a potential buyer, you’ll want to make sure there’s a proper escrow set up.

Basically, when a buyer makes an offer on your home, they’ll write you a check for “earnest money” (kind of like a security deposit or holding fee). This money is held by a neutral third party until you and the buyer negotiate a contract and close the sale.

Since you can’t use the money and neither can the buyer, the money is considered to be in “escrow”.

Contingency

When you’re negotiating the contract of your home sale with the buyer, there are likely to be a few contingencies in your contract. Contingencies protect the buyer if they fail to qualify for a loan, if they are dissatisfied with the results of the home inspection, or if something else falls through.

Carefully consider all terms of the contract, including specific contingencies, when reviewing offers. The more contingencies an offer contains, the riskier it is to accept the offer, as there are more ways it could potentially fall through. Work with your Realtor to negotiate a contract that benefits you and the buyer.

Need a Translator? We’ve Got You Covered

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Give us a call today to get started.

What’s Your Style? 5 Popular Architectural Styles to Consider for Your Dream Home

Dream homes around the country have one thing in common: amazing architecture. From Greek Revival to Modern, we’re breaking down the most popular architectural styles in America to help you discover your own dream home.

A two-story Greek Revival plantation home with tall columns, wrap-around porches, and a grassy lawn.

1. Greek Revival Homes

Popular during the 1820s, ’30s, and ’40s, Greek Revival takes inspiration from the ornate temples of ancient Greek cities.

In America, you’ll find this architectural style sprinkled in cities throughout the country. Picture the magnificent columns and symmetrical design of historic Southern plantation homes, monuments like the Lincoln Memorial, and the White House itself, and you’re thinking of Greek Revival.

This architectural style exudes elegance and sophistication, which is why Greek Revival is one of the most popular housing styles in the United States. Many Greek Revival homes feature:

  • neutral exterior colors, particularly white
  • gabled roofs with a cornice
  • tall columns, either fluted or smooth

The Painted Ladies in San Francisco, a row of tri-colored Victorian houses with the San Francisco skyline in the background.

2. Victorian Homes

Fans of Full House will instantly recognize these colorful Victorian homes in San Francisco. The Victorian architectural style made its debut in America during the reign of Queen Victoria in the 19th century, popping up in small towns and big cities alike.

Victorian homes are often asymmetrical and ornate, and they typically include some or all of the following features:

  • bright, bold exteriors instead of neutral tones
  • elaborate trim and rooflines
  • towers with pointed roofs
  • bay windows

Two Tudor-style buildings, the one on the left with black timber in a criss-cross pattern and the one on the right with red timber in a criss-cross pattern.

3. Tudor Homes

In the late 19th century and early 20th century, homes started to take on the look of medieval European castles and inns.

The Tudor, or Tudor Revival, style is best recognized by the decorative timbers on the exterior of the house, but homes with this architectural style also feature:

  • steep gabled roofs
  • dormer windows
  • large decorative chimneys

A two-story brick Colonial house with dormer windows on the roof and two brick chimneys flanking both sides of the house.

4. Colonial Revival Homes

Arguably the most popular architectural style in the United States, Colonial Revival first came on the scene between the 1880s and 1950s. Dutch Revival and Georgian Revival are considered subcategories of the Colonial Revival style.

Like Tudor homes, Colonials often feature dormer windows and gabled roofs, but they can also have:

  • simple rectangular windows
  • symmetrical exteriors
  • covered center entrances

Frank Lloyd Wright's Fallingwater House, a Modern three-story home with a stone chimney that is surrounded by trees.

5. Modern Homes

Also known as Mid-Century Modern, this architectural style was popular during the 1930s, ’40s, ’50s, and ’60s and valued simplicity over showy design. Frank Lloyd Wright’s Fallingwater House is a great example of this popular home style.

Since Modern houses were also designed as a way to connect with nature, these properties tend to feature:

  • open floor plans that flow to outdoor spaces
  • large windows and sliding glass doors
  • ranch or split-level layouts

No Matter Your Style, We Can Find Your Dream Home

Have your heart set on a certain architectural style? We’ll help you find (or build!) your dream home with the look and feel you want. Contact us and let’s talk.