Code Words in Real Estate

Code Words in Real Estate

 

 

Code words in real estate are all too common. The problem with these “code words” is that people who don’t work in the industry don’t have a clear picture. 

 

Team Be New Orleans is going to decipher the hieroglyphics that real estate can prove to be sometimes.

 

Adjective Code Words

 

Cozy and quaint: This shouldn’t be a surprise to anyone – it means small. This New Orleans home will not be significantly large.

Updated: Updated does NOT mean renovated! It could mean that they just added some new countertops. Or just painted.

Unique and Character: There is gonna be some weird stuff. (Which gets me pumped!)

Charming: It means small. It could also mean it has some original features but still little.

Move-In Ready: Allegedly, this house will need nothing for you to pack your things up and move right in.

Curb Appeal: It’s got great landscaping.

Must-See: Typically means the outside is not great, but the inside is much better!

Luxury: Expensive. It doesn’t mean that it’s renovated or move-in ready. It just means costly in New Orleans.

Tremendous: This word means nothing. It’s used arbitrarily these days.

 

House Specific Code Words

 

SQFT: This should be obvious, but it means square feet.

3/2: Anytime you see numbers like this: it’s ALWAYS bedroom amounts first then bathrooms. A 3/2 would be a 3 bedroom and 2 baths. If it’s a 4/3.5, that means 4 bedrooms and 3 and a half baths. Get it?!

Jacuzzi or spa tub: It has jets. And if they work now, they won’t work longer than a year from now. Be prepared.

Potential and Good Bones: They are prepping you for renovations. Any property description that has these words or “make it your own,” all it means is you have to put money and time into this house.

 

Location Specific Code Words

 

Location, location, location: You’re going to pay more to live there.

Up and Coming: The neighborhood is not super desirable right now but will possibly be in 6 to 12 months!

“New” Bywater/Marigny/Any other neighborhood: It’s not actually in that neighborhood. It’s across from some main road (like St. Claude), and they are trying to disguise it as the other area.

 

Seller or Buyer Specific Code Words

 

Motivated Seller: The seller needs to get rid of this ASAP. Let’s do this.

Calling all investors or handyman special: The house needs A LOT of work done to it.

 

 

Don’t let code words in real estate fool you! Work with experienced and savvy real estate agents to help you navigate through the noise.

 

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