In our market, a FROG in your house is actually a really good thing. In real estate terms, a FROG means "family room over the garage"
How many of you out there honestly knew what this abbreviation meant? Many real estate agents & brokers don't even know what a frog is?
Being able to decipher real estate abbreviations & terms has always been a funny, frustrating problem for many home buyers.
"Newer CC style home, 3BR, 1.5BA, WBFP, new A/C with a large FROG, no bsmt and only 209K" Can anyone please translate what I just typed here? heh, heh, heh.
Years ago, selling homes via classified ads in the back of newspapers and magazines was common place. But, now traditional real estate agents use other marketing venues, especially the Internet. So, the good news is that heavy use of vague real estate terms, abbreviations and euphemisms in real estate marketing is on the decline. But, abbreviations and euphemisms are still a problem in real estate that the homebuyer needs to be educated on.
For years, I've told my clients that you have to be able to read between the lines when you are looking for a home. The information about the home on the main listing page usually has misleading descriptions.
Needs a little TLC or fixer upper............really means the house is a dump and hasn't been updated at all.
Cozy, cute home.................really means the home is so small that it is difficult to turn around in.
Great landscaping, beautiful yard.................really means the house is a piece of crap, but the seller has to found something positive about their house.
Damp basement in the spring............really means we usually get 2-3 feet water in our basement once a year.
Sometimes sellers think minimizing problems in their listing descriptions, like, "damp basement" will protect them from getting sued for non-disclosure. I don't think so!
One last tidbit of information for you. Many times in the listing description you will see the words"many updates" or "mechanical's updated". The problem is how do you define recently "updated". My personal definition of "updated" is anything that has been done in the last 5 years.
You really have to be careful when you see a sellers that uses "many updates" in the listing description. I had one personal experience where a listing agent stated that the roof was recently updated. After evaluating the home with my buyer client, It appeared to me that the roof had some prominent signs of aging (lost granules, slight peeling/curling of roof shingles, etc.) and didn't really look like the roof was recently updated. I contacted the listing agent for additional information and/or paperwork on the roof. The listing agent provided documentation that the roof was nearly 9 1/2 years old.
I asked the agent how they could describe a nearly 10 year old roof as recently updated. The listing agent's explanation was that the new roof's expected life expectancy was somewhere between 20-25 years and since the roof was still less than "half old" that they felt they could list the roof as recently updated.
Geez, are you kidding me! So again, be very careful when you see these words. You always want to make sure you have a full home inspection completed by a qualified home inspector. Your Buyer Broker should also always ask for copies of receipts and/or invoices of any recent updates.
HomeBuyer Advocate Mike
Representing People, NOT Property!