I realize a lot of home buyers begin their search on the internet so I thought a blog explaining exactly what a picture means, or what a Real Estate agent is really saying by using certain verbiage, would be helpful.
For instance, you see this picture...
and you think, "Oh, that's a pretty home!" You then realize that this is the only picture on the internet and the agent says something like, "Beautiful Forest Hills home in Dallas waiting to be made your own!" in the description. Well, what that really means is that this is probably an older home and it's more than likely original to the time it was built and needs either updating or an extreme renovation.
On that note.. what's the difference between "updated" and "renovated?"
Updated - since the home was built, the sellers may have painted, replaced the carpet or installed tile or hardwoods, replaced hardware, etc.
Renovated - new cabinets, new countertops, walls may have been moved, popcorn ceilings gone, fresh paint, gutted bathrooms, etc.
If you see this in replace of the pictures...
This could mean 1 of 3 things:
1. the agent was too lazy to take the photos;
2. the agent was more concerned with getting credit for getting the listing than having your home offer a great first impression and put the home in the MLS before getting pictures; or
3. this is a complete re-do and needs to be completely renovated or it's lot value and this is a tear down.
If you see a picture with a date in the bottom right corner...
the home is more than likely an REO (Real-Estate Owned) which means it's bank-owned/foreclosure.
Also be aware of professional photography with wide-angle lenses...
Although it looks FANTASTIC on the internet, sometimes it can be deceiving. I've actually seen this home in person and although the backyard appears to be HUGE in this picture, it is, in fact, a typical 50x150 lot size. It is a nice size, but it's definitely not ready for your baseball diamond.
And if you see this picture...
It's October in Dallas, TX, and you know it MAY snow once or twice a year in January-February, you now know two things
1. this home has been on the market for quite some time; and
2. this is another lazy agent!
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