If you are new in the real estate world, then you would probably find it challenging to pick up on property description clues that could significantly affect your home buying experience.
Beware of these 5 real estate code words according to Trulia:
"Pride of ownership shows"
While this could mean that the owners have made sure that they kept the property well-maintained, it could also mean that the home is stuck in a time warp. Just think outdated kitchen, 80's style tiled bathroom, or glass-bricked entryway.
"In one of the hottest neighborhoods"
In real estate, "hot" doesn't necessarily mean "popular" or "coveted". When you see a listing and refers to a neighborhood as "hot", more often than not, it means that the neighborhood is still in the process of being established. While developers think and hope that it's going to be the next big thing, the thing is, right now, it is not.
A similar term that you should also look out for is "up-and-coming neighborhood". It could be the most desirable location in town someday, but for the immediate future, it's not.
"Attention: investors"
Also known as, "Stay away, average homebuyer". This listing could suggest that only a savvy developer can take care of the property. The place may need a studs-up rehab which is not attainable home-loan wise.
"Offered as is"
Take this as the seller's way of saying that they are not open to negotiation and that the house has some serious problems but they have no intentions of pretending otherwise. It could be some downright alarming things like bursting pipes, an unfinished renovation, or a roof in danger of collapse.
"Natural landscaping"
Or you could say a yard jungle. It could be any green thumb's dream, but for someone who is looking for a little nonweedy backyard space, it can be a big disappointment.
