Jodi Summers = Santa Monica Real Estate

NEW MARKET VOCABULARY

New Market Vocabulary
At the recent NATIONAL ASSOCIATION OF REALTORS- Expo & Conference in New Orleans, it was evident that market forces are changing real estate’s vocabulary. At the moment, the country’s real estate market is divided into five sectors:
Non-Boom Stallers:
Regions that never participated in the housing boom.
Non-Boom Gainers:
Regions or markets that did not participate in the boom, but grew all the same.
Boom Lites:
Regions that shared slightly in the boom.
Average Boomers:
Regions that experienced the boom but moderately.
Hot Boomers:
Regions where homes experienced red-hot acceleration.
**
Further evidence of real estate’s evolving lexicon can be found on this rundown on what’s in and what’s out:

Out                         In
Offer                             Proposal
Monthly Payment          Monthly Investment
Sign                              Approve
Lot Hold                       Homesite Research

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