Real Estate Information

It’s a great week this week in Hot Springs.  The spring weather is here with temperatures in the 70s, the Bradford Pear trees are blooming, the lake levels are back to normal, and the streets are packed with tourists in town for the horse races.  You can feel the excitement!

On top of all this great news, our local Chamber of Commerce made the headlines in the local newspaper with their very positive reports on statistics.  Here’s some of the information that they reported earlier this week:

• Arkansas’s unemployment rate is currently 6.4% - much better than the national average at 8.1%
  
  
• Hot Springs unemployment rate is 5.9% - even better than the state & national average, and also improved from Hot Springs’ rate 5 years ago at 6.4%
  
  
• Hot Springs experienced a 28% growth in per capita income since 2004.  This is the highest percentage growth in Arkansas.
  
  
• Arkansas experienced a 3.8% increase in tourism in 2008, & a portion of that increase can be attributed to Hot Springs, which saw a 1.54% increase in hospitality tax collections.
  
  
• As a major contributor to the tourism sector of Hot Springs, the Oaklawn Horse Racing Track is seeing higher attendance than virtually ever other race track in the country.  Attendance at every race track in the U.S. is down by an average of 30%, while “Oaklawn” is up 2% over last year in attendance and bets made.
  
  
• Home prices in Hot Springs fell only 0.35%, while Arkansas reported an 8.3% decrease.  Home values are holding in Hot Springs.

In addition, we are also pleased to report that our web site:  www.BestofHotSprings.com is booming with hits.  We are now averaging 55,000 hits/month over our last year’s average at 35,000 hits/month.  This tells us that we have more interested buyers out there.

So let’s turn the TVs off and get out & enjoy some wonderful Hot Springs.

In today's real estate market, we're seeing that homes are having longer stays on the market and competing against a broader inventory.  This has created a buyer's market in Hot Springs, giving buyers a better negotiating stance.  With that in mind, we felt the need to create this additional service for our sellers to even the playing field.  We also wanted to extend this service to our other vacation home owner clients.  Please check out our new concierge services here www.HotSpringsConcierge.com

Website hits are up!  The Kennedy Team's website, www.BestofHotSprings.com expects more than a 33% increase in site hits by the end of January.  Historically, this website averages 35,000 hits per month.  As of today, with one week remaining in the month, 42,500 hits have been calculated with an average of 1,635 hit per day! That's 470 more hits per day than the usual 1,166! If this increase in web activity continues, and it is expected that it will, The Kennedy Team should have 52,300 hits by the end of January 2009. What a great way to begin the New Year!

The Broker at the main office at Trademark Real Estate, Inc. also reports a swell in activity with increased showings on all of the office listings.

I asked Paulia Kennedy, real estate marketing guru, if she was advertising her listings any differently.  Paulia's reply was, "I recently changed our print ads and focused on a professionally designed general print ad in the homes magazines which is different from the other agents' ads showing just little pictures of houses." 

Paulia continued to explain, "Another reason for good hits on the site has been the attention paid to our holiday gifts that we sent out in December. We received lots of thank you's along with good referrals." The gift that keeps on giving!

Paulia and the Kennedy Team have a number of new listings this month.  I've been posting virtual tours nearly every week. As a result, there are many more Kennedy Team lawn signs out there as well.  Paulia said, "We're also getting more people say they see our signs everywhere... (and we've got more signs out there now)."

Along with these results Paulia is confident that the market is changing for the better. She has seen an increase in buyer confidence, and the Kennedy Team is preparing for a booming real estate market in 2009!

Janine Gregor
Virtual Assistant to Paulia Kennedy

After posting my initial Tough-Love Real Estate Marketing entry, a number of people asked me to clarify the details of a Paulia Kennedy's 'honesty talk' and what the criteria was for 'being choosey'. 

Paulia explained that, "We first determine how motivated they are (if they really want and NEED to sell).   If they say, 'We don't really have to sell' -- then we really do not want their listing. If the need is there, then we spend a lot of time during the interview process explaining the complete process.  We want to make sure they are ready to work with us - which means we need their full involvement and participation in order for us to be successful. We consider the seller the No. 1 person on our marketing team."

Paulia continues, "In order to sell a home, there are 3 things that the seller has control of -- the home must be priced right, it must be in good condition, it must be easy to show.    If the seller sticks their head in the mud and ignores our advice along with all of the ongoing information that we send them after we enter into a listing agreement, such as the showing feedback reports, the ongoing market reports and the competition home reports then we try to amicably exit our listing agreement.  It then becomes only a waste of our time and their own.  We also consider the other factors of the property (which are out of our control) -- location, the actual property, etc.  -- and determine if we think it has a chance of selling."

Resulting in continued, steady sales, Paulia exclaims that many agents are sending their listings to The Kennedy Team knowing that this Tough-Love approach means that the property has a better chance of selling. 

I asked Paulia why outside agents would give up their listings to The Kennedy Team. She explained, "Actually, I think the referring agents' biggest problem is that they do not have good follow-up systems with their sellers.  The agents do not keep their sellers involved - which then causes the seller to be disgruntled.  At that point, the agent has totally lost the relationship which we work so hard to develop and nurture between agent and seller.  So by referring the property to us, I think it is the other agents' way to try to hold on to the deal somewhat and at least earn a referral fee.  We also hear from those sellers we take on that they are seeing our homes all over the internet, with virtual tours, etc., and they wonder why their agent is not doing the same marketing for them.  All of the internet work is standard marketing for us." 

Paulia concludes that, "The Realtors have to work much harder now, and it takes a full team to handle all the work involved with a listing.  And it seems to be a survival of the fittest mode now.  The Kennedy Team saw this coming and we have been fully prepared."

I received an interesting email from Paulia Kennedy last week. She explained me, "We're really getting hammered with new listing calls lately -- seems like we've been averaging about 3 new calls per week.  It's getting to be so many, that we really have to be choosey about the properties we list.  We have been deliberately honest, upfront and realistic with the sellers.  Then after the honesty talk, some of them are deciding to hold off on selling." 

Having worked with Paulia for sometime now, I am well-aware of the integrity that defines The Kennedy Real Estate Team, so I asked her to characterize, 'honesty talks'. 

Paulia explained, "It's being totally candid on what we think their property will sell for (with no sugar-coating) and how long we think it may take to sell.  We are upfront about the true negatives of the property that we will have to face.  We come up with a plan on how to offset those negatives.  We fully explain to the seller information they may not want to hear about their property based upon our market absorption rates, our knowledge and experience.  We often suggest they hire an appraiser - especially when they are being unrealistic - or it if it's an unusual piece of property with very few comparables available."

When the market was really lucrative, Paulia and The Kennedy Team would give a similar 'honesty talk' but they were not as adamant with their advice.  Paulia explained that they would often give in to the seller requests and allow them to start off with a higher price – as it was not as critical then.  She added, "The sellers did not seem to be in such desperate financial conditions and the buyers did not seem to be as demanding before."  In this volatile market, The Kennedy Team gives the seller the most realistic news, which more than likely is not what the seller wants to believe is the truth.  This frankness means that Paulia and The Kennedy Team can concentrate on selling only those properties, priced appropriately for their market working only with realistic sellers who fully understood the truth of today's market. 

It may also mean fewer listings but the reality is that the Tough-Love approach has meant stable sales.

Janine Gregor
Virtual Assistant to Paulia Kennedy

When we put our northeast home up for sale a few years ago, I remember the day that the real estate agent caravan stopped our home on agent Open House day.  There isn't much to say here about that day, as it was an uneventful experience.  The agents came, and then they went. So last month when Paulia Kennedy asked me to flag her internet sites to indicate that one of her listing properties was to have an Open House the following week, I didn't think much of her request.  I soon learned that this was not going to be a ho-hum event.

Paulia explained that everyone on The Kennedy Team pitches in for Open House activities to create a rather tasty smorgasbord for the invitees. Paulia wrote, "Our Realtor® Open Houses are Open to all, (the public and the real estate community) but we focus on having the event when it is convenient for the Realtors to come."  Paulia found that after holding a number of Open Houses, her team noticed better attendance on Wednesdays or Thursdays at lunchtime.  She added, "Then we cater the lunch and of course the free food gets them!"

I inquired about more details on the 'free food concept' and Paulia answered, "I've got the lunches mastered with a really good spiral-cut honey glazed ham from Wal-Mart that I bake for about 2 hours - cost is $23 and it feeds about 60 people." Paulia enlightens this conversation in her endearing southern vernacular by emphasizing, "...and everybody brags on it."  The menu does not stop at a glazed ham.  "Then we get rolls from the deli to make sandwiches and sometimes pick up potato salad. Debi (Jones) buys Kroger's great chicken salad that everyone loves and adds additional items and drinks.  Jeff  takes care of loading the drink coolers and putting out the signs.  Even John Watson, our resident handyman helps out with toting and stocking the coolers and then stops in to socialize with us."

I had not heard of such attention paid to an Open House menu.  But, then Paulia explained to me that, "All of the other Realtors rely on the Title Companies and Banks to cater their own Open Houses but we felt like that was misuse of those vendors.  So we do our own catering by ourselves."  Apparently, as Paulia clarified, "It seems that after we provided all the fixings for a few Open Houses, the local banks and title companies have now put their foot down on it with the other Realtors and as a result they [banks and title companies] appreciate that our Team is not constantly calling on them for food donations."

"We also invite the vendors to bring their own clients and occasionally I send out postcards to the neighbors to come; so we do try to welcome everybody.  Normally, we don't get many of the regular folks to come (other than the curious neighbors wanting to compare to their own home).  But we offer plenty of food to everyone.  We rarely do regular public Open Houses, as we've found that they aren't very effective."

I squirreled this conversation in the back of my head until I came upon an article yesterday from Realtor Magazine entitled, "Feed Them Well and the Associates Will Sell".   The article states, "Rather than provide a dish of candies or a pot of coffee, associates are finding that omelets, salads, and pastry bars, among other treats, are necessary to generate interest. Some realty professionals are going as far as offering homemade cookies in personalized tins to draw crowds, and a menu often is advertised alongside a listing's asking price and other features on materials circulated within real estate circles.

While some real estate pros would rather shell out cash on advertising, others are willing to serve lunch if that is what it takes to sell the home."

Yet again, The Kennedy Team is ahead of the real estate game...in a tasty way!

Janine Gregor
Virtual Assistant to Paulia Kennedy

Paulia and I have been sharing ideas this week for a good blog entry.  I have been asking her about behavior changes in buyers and sellers as many have had to rethink housing plans due to a shifting real estate market.  I asked Paulia to check her 'send box' to see what types of email questions she has been responding to, as this is a great source of information for the here and now.

One such individual who wrote Paulia was interested in purchasing a condo on prime Lake Hamilton property in Hot Springs, AR and gave Paulia a laundry list of 'wants'; most entirely unrealistic for the $100k he wanted to spend. The list reads: 

• A 2 or 3 bedroom condo.
• In a well run condo complex.
• But, a condo that has been neglected, once a rental that had been abused, etc. 
• Fairly low monthly fees.
• On Lake Hamilton.
• Price, less than $100K if possible.

It is important to stop here and note that even at today's real estate prices a 3-bedroom condo with a good floor plan, in a well-run condo complex with fairly low monthly fees on prime lakefront lists for, on average, $300k. 

So, I had to take a second look at the 'wants' of the buyer versus the 'reality' of the situation and ask myself, why IS this buyer being so very unrealistic? He wishes to pay 1/3 of what a condo in this location is priced.  Not half the price… or $25k below the comparable or even $50k below, but 1/3 or approximately $200k less than the listing value. Why, that's 3 condos for the price of one! How much more did he really think the market was going to 'bottom-out'?  So I reread his email a bit further to understand this thinking.  The potential buyer admits, "I may be unrealistic.  That's okay.  If something like this does not materialize, that's okay to.  I just know my retirement account has declined by 40% in the last month.  That has made us alter our thinking quite a bit." He also added, "Don't really have a timeline.  I've always been slow on purchases.  I drive a truck with 199,000 miles on it.  My wife's car is the new one and it has 113,000 miles." 

I ask more questions…Why did he add all of this extraneous information about his 401k and his wife's car?  I believe this man is suffering and he wanted Paulia to know this.  Perhaps he was looking for a sympathetic shoulder. Since his correspondence was in the form of an email, there was little risk involved for a face-to-face potentially embarrassing conversation. I also conclude that this buyer is having grave difficulty adjusting to change.  Evidently, he has the same list of 'wants' from the past such as living on a popular lakeside location; one luxury he simply cannot bear to give-up.  Rather, he would much rather raise his family in a beat-up condo and succumb to the renovation expense process than to give-up the lake view.  I really find this behavior to be fascinating!  To me, it is like buying a beat-up 1972 Cadillac, without modern day safety improvements and gas efficiency just for the sake of owning a Cadillac. 

I asked Paulia if she's noticed any other changes in buyer behavior. Paulia observes that, "It’s becoming more & more difficult for the folks with a fixed income, and the middle-class folks to purchase a home.  And we’re also seeing more people, being unrealistic with their wants– they seem to want to buy cheap and sell high -- and that “ain’t gonna” work." 

On the other hand, in the luxury home buying market, Paulia indicated, "We've noticed more of a shark-like tone from the upper clientele – they’re hovering around like vultures ready to pounce and snatch-up bargains from the desperate sellers that are in a financial bind."

Paulia's own responses to those who are inquiring about properties have also been revised.  As The Kennedy Team of Trademark Real Estate, Inc. does not participate in property management and rentals, an unusual but practical deal has been worked out with one particular group of developers they work with, for example, who has agreed to offer the properties for lease. Paulia explains, “In the past, we would quickly refer the clients looking for lease options to the property management companies in the area.  Now, we’re trying to hold onto them because there are fewer potential buyers out there, so we’re doing whatever it takes to hold on to the clients and help them out until they are in better positions to buy or sell."

For those sellers who have listed with the Kennedy Team, Paulia states, "We’ve had to change the mindset from telling them [sellers] that, It’s not good to have a home sit on the market too long - to - It’s okay to have it on the market a while, as we need to be sitting and ready for when the market shifts back and the buyers pounce.”  She adds, "We are keeping our sellers posted of all activity through our online seller reports (which is a great system that most Realtors do not offer) and we are keeping sellers posted on market stats, by reviewing the comparable home sales & active listings with them much more frequently.  We are making sure that they are right on-price, as we do not want to miss out on any buyers, especially due to pricing.  We have very thorough pre-listing packets with tons of initial information offering the seller lots of helpful tips and information on the selling process.  We often spend two hours on our initial appointment, explaining the process."

The beauty of cut-backs, downsizing, price-reductions, slow-downs, etc., is that it does compel those who are optimistic to develop creative strategies that otherwise might not have been pursued. The difficulty is watching buyer behavior change so dramatically that sensibility becomes non-existent.

Janine Gregor
Virtual Assistant
www.YourVirtualWizard.com

As I mentioned in prior blog entries, I often peruse other agent sites to read what services he or she offers for potential buyers and sellers. Many agent sites tout that he/she will not only find the perfect home for their buyers but will handle every last detail up to the purchasing process.  What does that really mean; to 'handle every last detail up to the purchasing process'?  How far do these services really go?

I see that many agents offer more now in the way of resources such as the downloading of reports but that service seems to be the 'norm' and no longer the exception. What is it that you offer that sets you apart from the rest?

Now granted, I work with Paulia Kennedy of 'The Kennedy Team' also consisting of Jeff Kennedy and Debi Jones but I have worked with many agents in the past so I can honestly state here that this Team offers clients so much more value for the money than many I have met. 

The Photographs

have previously blogged about the many professional photographs Paulia personally takes for every listing; no matter what the selling price is for a particular home.  No one that I have ever worked with since I've been a real estate virtual assistant takes 50-100 photos of each listing, hires an aerial photographer for some listings and has me update these listing with new and fresh photos to rejuvenate the visuals. As I mentioned, Paulia keeps me busy.

Even the actual Kennedy Team member photos are also updated a few times a year in keeping with the changing seasons and backgrounds. The same holds true for sellers. If a seller paints a room, Paulia is out there with her camera taking new pictures of the updated space.  She believes in keeping the listings updated at all times.

The Professional Handyman

Recently, I learned that The Kennedy Team also offers an extra-special marketing service for both buyers and sellers as the Kennedy's have a professional handyman on staff whose name is John Watson. 

John is the man behind the infamous one-of-a-kind custom 'Kennedy Team signs'. As part of their comprehensive marketing package, John custom builds each sign from scratch in their workshop. He has drafted templates for each
roof, which helps him to build each sign to perfect scale.

John Watson customizes each sign matching the roof tiles with each property sign and the home itself. He has even used clay tiles on one luxury home property sign, which perfectly matched the same clay tiles on a particular Mediterranean home.

John's work does not end there. He also uses the weed-eater & repellent around their signs on vacant land and occasionally gets the chain-saw out to cut down small trees blocking those signs. His work is meticulous!

A hard-working and trusted Kennedy Team member, John often helps with preparing the luxury homes for showings. He makes a trip to the home about 30 minutes before the tour and turns on all the lights, adjusts the thermostats, sweeps the front entrance area, blows the leaves off the driveways, decks & pool areas. He also returns after the showing to double-check every lock and make sure all the lights are turned off and that the home is secure. John assists with keeping the flyer boxes filled at the homes and makes regular checks to make sure our signs are straight, clean and neat.

John is the ultimate professional handyman for small repairs for our clients. It is extremely hard to find workers for small jobs, so they always count on John to get the small items repaired ... especially when The Kennedys are 'under the gun' to meet the small repairs item list from buyers.

It is important to note that John's services are exclusive to The Kennedy Team. His custom signs are not for sale either. 

The Real Estate Virtual Assistant

Primarily, I assist Paulia with her listing photographs.  She advises when a listing has been signed and uploads photographs which need to be stitched and edited.  I spend practically every day creating virtual tours, updating photograph files, assisting in Point 2, blogging and host of other assorted tasks. Quite frankly, I cannot see how she managed to handle all of this work in the past in addition to her regular marketing and buyer and seller support responsibilities.  With the addition of a virtual assistant, Paulia spends more time personally working with buyers and sellers to expertly market their homes. 

The Kennedy Team really does offer to 'handle every last detail up to the purchasing process' from contract signing to custom sign development, to photographic and high-end brochure creation.  They even offer a small repair service for their clients so that the home passes final inspection on time and at no extra cost to the buyer and sellers.  Oh, and if you are looking for reports, The Kennedys offer those too!

Janine Gregor
Real Estate Virtual Assistant to Paulia Kennedy

In 2004, when we decided to relocate from the northeast to the southeast due to a job offer, I knew that staging a home was central to a successful sale but I did not realize how REALLY significant this field would become.  Now, in researching this blog, I have tremendous resources from which to learn about the staging process coupled with cable TV programs dedicated to just this particular topic.  But what I have not read or seen recently is how to directly stage a home for a particular market, which is what I was able to accomplish when we sold our home at that time.

During the previous 10 years, the town I was moving from had seen an influx in the Orthodox Jewish population, so I set out to learn as much as I could about this particular market's needs.  I did my research at the library, interviewed several real estate agents and selected an agent who was himself was an Orthodox Jewish Realtor®.  Single family homes were in great demand at the time; this before a building boom began a year later.  I had numerous Orthodox Jewish agents knocking on my door and leaving business cards in my mailbox so I knew the property was desirable.  I met new Orthodox Jewish neighbors who had moved into the neighborhood and I politely asked many questions about what my market would be looking for in a home.  I knew early on who would be interested in my home and devised a plan.

Prior to listing the home, we made some changes to the home to meet the desires of this unique population.  My spouse installed a double stainless sink in the kitchen as I understood that one side of the sink needed to remain kosher when preparing meals.  We only had 3 bedrooms in this home, two of which were small.  I understood that the average Orthodox Jewish family size consisted of 9 members; I had to stage the bedrooms to appear larger and able to accommodate growing families.  We pulled out all of the furniture and installed inexpensive bunk beds which made visible that at least 3 or 4 children could share one room.    

As many generations of Jewish families tend to live together, we wanted to improve our very large and dry basement, (which fortunately had high ceilings), and create added living space.  This was not a costly improvement and we were again so fortunate that the utilities were installed in the back of the basement so an inexpensive screen hid the unsightly water tank and water softener.  We created a pleasant looking bedroom and sitting area in this space, which appealed to many buyers who came through to view the home.  It did not have its own bathroom but a spacious half-bath was only located up the stairs from the basement.

Jewish families are known to have large family dinners during the Sabbath and on religious holidays. My dining room was not spacious but it did boast an open floor plan which meant that the dining room flowed into the formal living room. I downsized the living room to a few arm chairs and a small table and set-up a large dining table with my finest china, a few religious items and candles to show that great family dinners could indeed be enjoyed in this space. 

I held open houses before sundown on Fridays and after sundown on Saturdays to observe the Sabbath.  The Jewish buyers were forbidden to drive, work or do a number of other tasks on the Sabbath so I knew no one would come for an open house if I held it on a Saturday.  Sunday was my biggest open house day. 

I even staged my own appearance.  Knowing that Orthodox Jewish women dressed modestly, I wore a long skirt, long shirt and low shoes.  Pants worn in the presence of men were prohibited so I opted for a skirt.  (It was the fall so I did not look out of place.)  I did not go as far as to cover my hair with a snood, tichel (scarf) or a sheitel (wig) but I pulled it back to the nape of my neck.  I also had to get used to the fact that some Orthodox Jewish male buyers and agents did want to shake my female hand so I did not extend my hand when they entered the home. (That was hard to get used to as I always extend my hand.) I believe this rule means that someone was shomer negiah and that non-married people are prohibited from showing physical affection, even in the form of a business relationship. I was not there to offer any feminist opinions; I just wanted to sell my house so I held my hands behind my back!

I did make one mistake, though.  I took a trip to the Jewish market and picked up many wonderful cookies and desserts, which I left for the potential buyers to select during the open house.  Unfortunately, the serving dishes I used were not kosher so no one took any of the items.  However, my family and I enjoyed several new treats we probably would not have purchased otherwise! 

We had several bids for the property and the home sold successfully.  Buyers seemed to be especially appreciative that the home was staged with their interests in mind.  I overheard buyers say during the tours, "This dining room is big enough for my Sabbath table" and "We can fit all the children in this bedroom."

One type of community that is much easier to promote to the specific buyer would be a retirement community.  I noticed in one of Paulia Kennedy's retirement community listings, such as Fox Creek  that she will specifically state, 'no step entry' (to the home) or 'wide doorways' to accommodate a wheelchair or walker. 

I understand that in many communities one would not gear a stage project for just one type of customer.  In fact, staging a home most often appeals to the masses because one would not know who exactly who would walk through the door.  But in a community where homes are in great demand by a specific culture or religious entity, it may pay-off to stage the home to attract a specific buyer.  It is all about knowing who that customer may be; it could be anybody or it could be a specific population.  And remember, there's a fine line about being culturally correct as one would not wish to be insulting by stereotyping.

Janine Gregor is a Real Estate Virtual Assistant to Paulia Kennedy
She can be reached at YourVirtualWizard@tampabay.rr.com

Hello,

This is Janine Gregor, Paulia Kennedy's Real Estate Virtual Assistant reporting today...

I am always looking at agent listings to see how properties are described.  Although I have conferred with Paulia Kennedy on only a handful of her listing descriptions, when the task has been offered to me, it is something I tackle with pleasure.  Paulia makes it easy for me though, (as I have mentioned in prior blog entries) because her listing photographs are really 'so good' and so very detailed that, I can describe a property quite well without even stepping foot on the lot.

When Paulia has asked me to write a listing description, I begin by scouting the competition's listings for good words and often have a chuckle knowing that some descriptions really require 'reading between the lines'.

It isn't always what agents describe them to be. 

Most agents want to accentuate the positive and downplay the negative.  It's all part of getting the buyer into seeing the home. However, it is important to use the right lingo so as not to mislead a buyer into thinking, for example, that 'easy access to everywhere' could really mean that the home backs up to an expressway. 

In researching this blog post, I came across a great booklet by an organization called National Association of Exclusive Buyer Agents. This organization published a report entitled "Home buyer Report 2008 Report on Home Buying Euphemisms and Lingo or, How to Read Between the Lines When You're Shopping for a Home". It's a great read here which catalogs several euphemisms from their members and the 'real' meanings of these descriptions compiled from listings throughout the country.

I've summarized a few:

Galley Kitchen - Can mean a hallway with cupboards and appliances that two people could not occupy at the same time. Deep South.

Waterfront - Sometimes means a man-made pond or lake instead of gulf access.  Deep South. (I see this often living here in Florida, particularly in areas with subdivisions boasting 'waterfront' a.k.a., man-made lakes. When water levels drop, these lakes are more like dry beds or mud pits.) 

Water View - Sometimes used even when you have to stand on the roof with binoculars and it must be an extremely clear day to see the water. Northeast.

Very Bright Sunny Home - Can mean there is not a tree in sight. Used everywhere.

Unique Design - Sometimes means you have to walk through a bedroom to get to a bonus room or to the exterior. This is most likely a defect in the floor plan. Southeast.

Turnkey - Can mean they want to sell the home with the 80's furniture that they (seller) doesn't want to haul away. Mountain.

Subject to Third Party Approval - Often indicates a short sale or sometimes indicates a relocation company is involved. In all cases, this means you will be negotiating with two different parties on the seller's side. Expect some additional frustrations and delays. Most areas.

Renovated Kitchen - Can mean new faucets and new knobs on the old cabinets.  Midwest.

Quaint Cottage - Can mean a wood frame house from the 50's and less than 600 sq. ft. Deep South.

Period Home - Could mean a 1700's home in original condition with a summer kitchen in the basement.  Northeast.

Newer Furnace and A/C - In one case they were 25 years old each (also confirmed by a home inspector).  When the listing agent was asked why she was stating they were newer she stated, "Because each one of them had received a new part within the last year."  Midwest.

Mechanic's Dream - It is often a real dump, but it typically has a big garage. Midwest.

Mature Landscaping - There was a 40-year old cottonwood tree that needed to be cut down before it fell on the house.  Midwest.

Light and Bright - Everything was white. White ceramic tile flooring and bright white paint everywhere. It looked like a hospital. Midwest.

Grandma's house - Hasn't been improved since she moved in and it still smells like her. Midwest.

Janine Gregor
Virtual Assistant to Paulia Kennedy