Whether it will be your first home, or a new home it is important that you understand the basics behind listing statuses. Listing statuses describe where the property is on a scale from just hitting the market to sold. Because there are only small differences between some of the listing statuses, it is important when looking for a home to know the terms so that you can take advantage of great homes as soon as they hit the market. Real Estate lingo is not hard to master and working with a Real Estate Agent will make the process that much easier.
Below, you will find two of the most popular real estate terms used to describe the listing status of a home for sale in Arkansas.
When an Arkansas house is in Active status, it means that the property is currently on the market and for sale. There may have been previous offers made on the property but none of them have been accepted. If you are looking for Arkansas homes for sale on our website, it is likely that most properties you will see will be in Active status.
The New Listing status is given to homes that have just hit the market. These homes are considered to be Active but are newer than Active. In Arkansas, homes are considered to be in New Listing status for 7 days. If during those seven days an offer is not made and accepted, the property will change to Active status on day 8.
Chek out the terms that confuse people most in the full article,What do “Take Backups” and Other Real Estate Statuses mean in Arkansas?