About Me

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Fleming Island, FL, United States
My beginnings were humble which makes the end of the story that much better. It doesn't matter where you came from it only matter that you have a plan for where you're going. Don't worry about what anyone else says believe in yourself, I did. We moved to Jacksonville from Upstate New York several years ago. Shortly after arriving my husband and I decided that I would give real estate a shot. While my husband positioned himself to be my biggest fan I set out to see what real estate was all about! It's been a wild ride. From the very first year I was blessed to be a top producer for my company Vanguard Realty. What did I learn? That old fashioned hard work, networking with fellow professionals and most importantly remembering that if my customers had a remarkable experience they’d refer me to friends and family is what makes a real estate professional successful.

Monday, September 8, 2008

Real Estate Acronyms? Can Someone Speak English?

I was working with a first time buyer the other day and realized that the longer one is in the real estate business you begin to speak in code. Not on purpose mind you just a bad habit. Oh it makes perfect sense inside your own head. Ah, but if you could only hear yourself speaking in consonants you would realize that your customers are mearly nodding at you and smiling.

I have decided that to put together my Top 10 Realtor Acronyms. Not to steal a Mortgage Lenders thunder I will leave those for one of you to reply. I realize there is another unique list.
  • DOM Days on Market - How long a home has been listed for sale or rent
  • HUD (Department of) Housing and Urban Development -The Government Regulated closing statement
  • CMA Comparative Market Analysis - Market Value Range a home will sell in
  • CDD Community Development District - (a tax collected for the infrastructure and usually the operations and maintenance of a planned community (PUD-freebie planned unit development)
  • CO Certificate of Occupancy- House is in compliance with building codes and is suitable for occupancy
  • FSBO For Sale by Owner We (Realtors) pronounce this as if it's a word
  • HELOC Home Equity Line of Credit (sometimes I will ask a seller if they have a HELOC (also pronounced as a word) , I usually get a puzzled look as if it's an exotic pet. Then you realize when they went to the bank they went to get an Equity Line.
  • REO Real Estate Owned - By the bank after an unsuccessful auction on the court house steps. Which is happening more often due to a homes value being less than what is owed.
  • SFR Single Family Residential
  • ASHI American society of Home Inspectors "Make sure you get and ASHI inspector" What is that? Especially in Florida we encourage some form of certification. Not until 2010 will Inspectors be required to be licensed.
There are 30 others to choose from, this was simply to get the wheels turning.
Often times folks do not want to tell you they don't understand, so they just agree. It's kind of like me talking to the Doctor. Don't dazzle me with terms I don't understand, speak to me so I do.
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