Certain phrases appear over and over again in property listings, and these keywords offer a good indication of the prices a property will command. An ad promising a “unique opportunity”, for example, has an average price of $3.4 million, while a “nice little bungalow” asks for around $62,000 on average. Quirky terms are also popping up in local markets: you’ll never guess what one of the most popular expressions in San Francisco is.
After sifting through its database of 4.5 million properties, Trulia.com has released a new study naming real estate ad phrases that often appear in the most expensive and expensive homes.
As you might expect, most of the phrases that fill the most expensive lists evoke magnificent estates; in fact, “magnificent estate” is one of the top 10. (The average listing price for a great domain: around $3.6 million). . Parlor is a common descriptor for luxury New York townhouses, notorious for high real estate costs. Even the 250 square foot shoeboxes envisioned by a space-constrained municipal government would be beginning at $940 per month to rent in New York. (“Shoebox,” by the way, isn’t a term you’re likely to see in real estate listings.)
The phrase “highest level” – another example of urban market parlance – corresponds to a price of $3.4 million, but most other terms imply a more spacious environment: “formal gardens”, “library paneled” and “car yard” all make the top 10 list.
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More precise wording seems to be a better bet for sellers: Trulia found that specifying oak or bamboo rather than just saying “hardwood” in reference to flooring equated to a higher listing price.
At the other end of the price spectrum, ads warning of faulty paint or a “mold-like substance” fetched average listing prices of around $45,000. When there is a lead paint warning, the average goes down to $40,000. Buyers looking for a starter home or investment property probably don’t want to spend a lot, and listings with these terms only average around $65,000. The lowest average price – $27,569 – appeared on ads with the phrase “minimum commission applies”.
Then there are the phrases that demonstrate the uniqueness of local markets across the country, where specific features or amenities seem to be popular with buyers (or at least people who write property descriptions). St. Louis is the first market where “stained glass” is mentioned, for example, followed by Pittsburgh. The word “lanai” – a kind of open-air porch – is a common term for listings in Honolulu, while “mirrored closet doors” are popular in Ventura County and Orange County, California. . And hey, San Francisco: Trulia’s research confirms your city’s reputation as a food and health snob. The phrase “Whole Foods” appeared 10 times more frequently in San Francisco than anywhere else in the country.
“Sellers need to know the local lingo to attract buyers, and buyers need to know what hyperlocal features to look out for,” Trulia chief economist Jed Kolko said in a statement. Buyers should also keep in mind that descriptive, flowery verbiage is a key selling tool – and not let those words “cute” or “gorgeous” get in the way of them finding the best home for them and negotiating the best price. possible.
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“From a buyer’s perspective, word listing can be a strong clue as to whether a home is overvalued or undervalued,” Kolko told TIME. “An expensive listing described with words that typically appear in less expensive listings could indicate that it is overpriced – or could indicate that the listing description understates the features of the home.”