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Dont Get Fooled by Real Estate Terms

May 8, 2024 | Uncategorized

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When looking to buy {Business Area} real estate, confusing terminology can leave you feeling like a dunce. From a multitude of numbers to marketing jargon, property listings can provide you with an overwhelming amount of information — and it’s hard to know what’s important. So, brush up on the terms below and don’t get fooled this April!

Sale-to-List Ratio

This is an important number to pay attention to when choosing a REALTOR®. The percentage is calculated by what a home was initially listed for, divided by the actual sale price. The closer an agent’s percentage is to 100, the better. If it’s low, that could be an indication that they routinely list homes too high.

Median Days on Market

The median days on market is the midpoint of how many days it took for homes in that area to sell. If it’s 30 days, then half of the homes sold quicker and half took longer than 30 days. If you compare the {Business Area} real estate you’re considering to its area’s median days on market and you find that it’s been on longer, the sellers might be willing to take a lower offer.

Distressed Property

Properties are listed as distressed when the owners have defaulted on their loans or are about to. As a buyer, you might be able to get a good deal on a short sale or a foreclosure, as banks usually list them below market value to try and recoup some of their loss.

An Active Versus Pending Status

If you find your dream home and then notice that it has a pending status, brace yourself for disappointment. An active status on a home means the owners are accepting offers, while a pending status indicates that they’ve already accepted an offer. If you know it’s the one for you, you can still place a bid in case the first offer falls through.

Don’t let the month of April turn you into a property fool. If you’re looking to purchase {Business Area} real estate, please let us help you cut through the jargon.

If you are considering selling your home, be sure to contact us at (480) 582-5050 or email us at info@webuyhomescash.com so we can provide you with a Fair Cash Offer on your {Business Area} house.

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    I had been wanting to sell my house for several months but every realtor I talked to needed me to clean up my house and I have 30 years worth of stuff here.  I was not able to get rid of my stuff or pack it all away.  My home also needed some repairs like the roof and some plumbing stuff.  I called We Buy Homes Cash and the experience was amazing.  They gave me $2,000 up front so I could buy the moving supplies I needed to pack.  Then they let me stay in the house for 2 weeks after they closed.  This was so helpful.  Thank you so much Tyson and all the others that helped me make my move to Ohio possible.

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