Are you a first-time home buyer? Or maybe it’s been awhile since you last checked out the real estate market? I found this fantastic Real Estate Lingo Cheat Sheet to help you decipher all those unfamiliar terms and abbreviations! Here are a few helpful definitions:
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.
frplc, fplc, FP — fireplace
in-law potential — potential for a separate apartment, subject to local zoning restrictions
MLS — Multiple Listing Service. An 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
There are many more! Check them out here: realtor.com