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Real Estate Abbreviations & Terminology real estate abbreviations

Real Estate Abbreviations & Terminology

44 Common Real Estate Abbreviations and Acronyms

Are you confused about real estate abbreviations or listing terminology? Do you feel like real estate agents are trying to confuse you with real estate terms and real estate acronyms?

Confusing real estate abbreviations
Are real estate acronyms and abbreviations confusing you?

If you’re working with real estate brokers in the search of a new home, most likely you are receiving MLS® real estate listings via the new Keystone Matrix® system. My buyers are always asking me to explain what some of the real estate abbreviations or real estate terminology stands for, so I thought I might create this post to help everyone out.

Generally from the top of the listing sheet on down, here is the list of abbreviations

Real Estate Abbreviations List

DOM: Days On Market reflects how many days since the home has been listed by the agent

Townhome style of housing

TYPE: This refers to one of the 4 different types of homes the listing service is displaying. They are:

RD = Residential Detached. This is the most common type of house, the one most people think of when looking at homes.

SA = Single Attached (Side by Side). These are two residences which share one common wall. They are cheaper to build, and therefor less expensive to purchase as well

TH = Townhouse. Usually found in rows of 4, 6 or even more. One long building which has a number of separate homes. The end units share one wall, while all interior units actually share 2 common walls.

MH = Mobile Home. Generally means a home which is located in a mobile home park. Careful here, as a ‘mobile home’ might actually be firmly attached to a foundation, and thus become real property.

TAX AMOUNT: This is supposed to be the TOTAL GROSS property taxes, including all Education Taxes, Local Improvements etc. As an owner-occupant, you would qualify for a $700 Provincial Rebate

RMA: Means Rooms Above Ground level. This indicates the total number of rooms such as any formal dining room, kitchen and living room, but NOT bathrooms or powder room, etc.

Real Estate Abbreviations & Terminology real estate abbreviations

BDA: Bedrooms Above Ground. Includes the master bedroom and all secondary bedrooms located above ground level

TBD: Total Bedrooms (including basement bedrooms). This is how you can tell how many bedrooms are in the basement. Simply subtract the BDA from the TBD and see that the basement has 2 bedrooms, for example. Careful here: Just because a property sellers are listing it as a bedroom, does not necessarily mean it fits the legal description of a bedroom.

FB: Number of full Bathrooms (a “FULL” bathroom has at least 3 pieces, so for example: toilet, sink and shower, or toilet, sink and tub)

HB: Number of half Bathrooms (a half bath might have only 1 piece, such as a toilet, or just a sink, but most often has 2 pieces)

EN: Ensuite, which refers to a bathroom that is accessible from a bedroom directly

Exterior: Refers to the exterior surface of the home’s walls. Most common in Winnipeg is stucco, but could also include brick, siding (including vinyl and aluminum siding) and wood.

Foundation: Most common is concrete, but older homes often feature STONE or sometimes Cinderblock or even brick. In the 1980s there was a fad for ‘Preserved Wood’ foundations.

Home heating radiator

Heating: Most common is ‘forced air’ which indicates central heat (preferred). Other options might be Hot Water (radiators) or electric (baseboard heaters).

Heating Fuel: Indicates whether it is gas or electricity. Some new home builders are making the switch to electric furnaces. Careful as even in our province, producing heat with electricity is substantially more expensive than producing it with natural gas.

Basement: Full. This means that the area size of the foundation is the same as the main floor. It does not mean the basement is finished, as this is indicated in another section.

Unfinished basement
Unfinished basement

Other options for the basement category are: crawl, slab, half and 3/4. Real estate professionals should be able to point out the differences, benefits and shortcomings, of each type of basement construction.

Square Feet: I’ve had clients try to add up all the room measurements of a listing, and come to the conclusion that the 1,200 ft home is really just 850 square feet. While they are correct, this is not how buildings are measured and advertised.

The proclaimed total square footage of a house is the OUTSIDE measurements which includes all 4-season living space, excluding the garage. It includes ONLY the areas above ground, so for example the main floor, second floor and third floor if there is one. It does NOT include the basement, UNLESS there is a crawl space under that part of the basement.

For further explanation, see this article on how homes are measured. and remember that different provinces and states might have different rules.

Garage

Garage – AT or DT. This refers to the car garage which can be either attached or detached. Confusion here sometimes as an ‘attached garage’ might be physically attached, but not have a direct door leading into the house.

S/S: Showings Start date. NO showings can occur BEFORE that date

OTP: Offer To Purchase date. That the is FIRST date when offers can be considered.

In addition to the above listing terms, you will probably come across many of the next acronyms used by the listing agent in their advertisements

Real Estate Acronyms

A/C or C/Air: Central Air Conditioning

APPL: Appliances (personal property)

ATT or DT: Attached or Detached also refers to single-family home vs. attached home.

CLG: Ceiling

C/Vac: Central Vacuum

CC: Clothes Closet or possibly “WICC” as in Walk-In Clothes Closet

AT/2 or DT/2: Attached double or detached double (as in garage)

EE and HE: Energy Efficient and High Efficient

F/Fin: Fully Finished

HWFS and HWDS: Hardwood floors and simply Hardwoods

S/S or SS indicating stainless steel (as in appliances)

WDW: Windows

WDWK: Woodwork (as referring to baseboards and window casings)

Im hoping that this list of most common terms is of great value to you.

If you’re thinking of buying a house or a condo in Winnipeg, call me for a free buyer consultation. There is a lot of information which is difficult to convey in a blog post but I’d be happy to discuss in person.

Confused our stumped by other real estate listings abbreviations?  Ask me in the comments, or email me anytime

Bo Kauffmann of Remax performance realty.

 

Below is the audio version of my popular post : Closing Costs When Buying A House Or Condo In Winnipeg.

Let’s see some real listings

 

If you’re thinking of buying a home, please be sure to check out “Buying a house or condo in Winnipeg; 6 important steps”

 

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Lindenholm Place: The best 55+ Building in Winnipeg? real estate abbreviations

Lindenholm Place: The best 55+ Building in Winnipeg?

Lindenholm Place at 885 Wilkes: Possibly the best 55+ community in Winnipeg?

With populations getting older, demand for so-called “55+ communities” is on the rise.  There are a few of these types of buildings, which restrict occupancy to only those of a certain age (either 50+ or 55+).  Here is a look at one of the best of these, Lindenholm Place at 885 Wilkes Ave.

Lindenholm Place: The best 55+ Building in Winnipeg? real estate abbreviations Leasehold

The units in this building are actually “Leasehold”  which is different than condo-ownership.  Buyers purchase the right to lease the unit, and do not receive the usual ‘Title of Ownership”, as they would with a condo or a house.  As such, the sale is governed by the rules of the Land Lease Act, which grants purchasers the right to re-consider their purchase for 7 days, which is now the same time period as granted to condo buyers.   One of the benefits is that there are no property taxes for the individual owners to pay, as is the case with condominiums.

The down-side is that a buyer can not get a traditional mortgage for this purchase.  The buyer must have the funds to make the purchase outright.

Restrictions

Just as any condo might have restrictions, Lindenholm Place is a strict 55+ building.  Additional restrictions include ‘No Pets Allowed”, as well as “No Smoking” anywhere in the building, including inside the suites.

Amenities at Lindenholm Place

Lindenholm Place: The best 55+ Building in Winnipeg? real estate abbreviations Here is there this community shines:  The building, which is all concrete, and built in 1989, features an indoor pool and solarium area.  There is a hot tub and sauna room and beautiful sitting area, facing south.  There is a large ‘party-room’ with kitchen, library, fireplace and television.  This is where residents get together for card games, pot luck dinners and other social events.  Suites, which range in size from about 750 sq feet up to over 1200 sq feet,  feature insuite laundry, central air conditioning and large balconies.  South-facing suites are nice and bright, and north-facing suites offer an exceptional view of the lake and grounds.  There is a garden area which residents can tend, greenery for walking, or relaxing.

Shuttle Service and Parking

There is a free shuttle to local grocery stores a couple of times a week for those who dont drive.  For residents who still drive their own vehicle, there is plenty of parking.  Many units include an underground parking spot, and the remainder come with an outdoor spot with plugin.

Security

This is a very secure building, with on-site caretaker, security door with intercom and other features.

Monthly Fees:

Monthly fees (which are normally referred to as condo-fees) range from around $500-750, depending on the unit size.  As mentioned above, there are no property taxes on top of that, which is a bonus.  The fees DO include cablevision (both MTS and SHAW are in the building), as well as water, management fees, parking and amenities.  Residents do pay for their own Hydro (lights and heat), which may range in the $40 to $60 per month, depending on location and temperature setting.

 

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