Atlanta Real Estate Prices

Even before you begin looking for a home, the home buying process requires serious preparation. Buyers who have been preapproved for a home loan often have their offers taken more seriously by sellers and find the process easy. With prior preparation, you can tackle the process of acquiring the financing you need with more confidence and understanding your buying power is vital in the home buying process.

With the current market shift it is evident that we are experiencing a buyer’s market in Atlanta’s Real Estate. With 100,000+ homes currently on the market along with new homes being listed daily, buyer’s have a lot of ground to cover when viewing homes of their choice and criteria.

When searching Atlanta Real Estate most buyers may find the lingo and verbal terms rather confusing. When searching Atlanta Region MLS for Atlanta Real Estate and Surrounding Regions, you may refer to this small guide for basic lingo meaning:

4B/2B-- four bedrooms and two bathrooms. "Bedroom" usually means a sleeping area with a window and a closet, but the definition varies in different places. A "full bathroom" is a room with a toilet, a sink and a bathtub. A "three-quarter bathroom" has a toilet, a sink and a shower. A "half bathroom" or powder room has only a toilet and a sink.

assum. fin. -- Assumable financing

Closing costs-- miscellaneous expenses paid by the buyer and the seller when the real estate deal closes. These costs may include the brokerage commission, mortgage-related fees, escrow or attorney's settlement charges, transfer taxes, recording fees, title insurance and so on.

CMA-- comparative market analysis or competitive market analysis. A CMA is a report that shows prices of homes that are comparable to a subject home and that were recently sold are currently on the market or were on the market, but not sold within the listing period.

Contingency-- a provision of an agreement that keeps the agreement from being fully legally binding until a certain condition is met.

Expansion pot'l-- expansion potential mean that there's extra space on the lot or the possibility of adding a room or even an upper level, subject to local zoning restrictions.

Fixture-- anything of value that is permanently attached to or a part of real property. (Real estate is legally called "real property," while movables are called "personal property.") Fixtures are a frequent subject of buyer and seller disputes. When in doubt, get it in writing.

Frplc, fplc, FP– fireplace

Gar-- garage (garden is usually abbreviated as "gard.")

Grmt kit-- gourmet kitchen

HDW, HWF, Hdwd --hardwood floors

In-lawpotential -- potential for a separate apartment, subject to local zoning restrictions

Large E-2 plan-- this is one of several floor plans available in a specific building

Listing-- an agreement between a real estate broker and a home owner that allows the broker to market and arrange for the sale of the owner's home.

Lock box-- locked key-holding device affixed to a for-sale home so real estate professionals can gain entry into the home after obtaining permission from the listing agent

MLS-- Multiple Listing Service, MLS is an organization that collects, compiles and distributes information about homes listed for sale by its members, who are real estate brokers. Membership isn't open to the general public, although selected MLS data may be sold to real estate listings Web sites. MLSs are local or regional. There is no MLS covering the whole country.

Nr bst schls-- near the best schools

Pvt – private

Pwdr rm-- half bathroom or powder room

REALTOR®-- a real estate broker or sales associate who is a member of the National Association of REALTORS®. Not all real estate agents are REALTORS®.

Title insurance-- is an insurance policy that protects a lender's or owner's interest in real property from assorted types of unexpected or fraudulent claims of ownership. It's customary for the buyer to pay for the lender's title insurance policy.

Upr -- upper floor

Vw, vu, vws, vus-- view(s)