Suggest. The action you just performed triggered the security solution. Usually . Keep an eye out for seriousmaintenance issues that may be disguised by quick surface repairs, and call in a trusted home inspector to help you spot any hidden problems. PLAY Playground All abbreviations on this list are typically written in all capital letters. All rights reserved. PERM Perm Attic Stairs A government agency created by the National Housing Act of 1934 that insures loans made by private lenders. CRS Certified Residential Specialist The document includes loan terms, monthly payment and closing costs. Learn, The act of paying off one loan by obtaining another. Both words imply motion, but the difference may b. Defenestration. Title Records posts and articles. Closing costs:All of themiscellaneous expenses paid by the buyer and the seller when the real estate deal closes. CMA:Comparative market analysis or competitive market analysis. GRNO Ground Maintenance LR Living room Click to reveal 2. to cover taxes and insurance. AC Acre There are many abbreviations used in real estate, but the following list includes the more common ones youve probably heard before. F/A Ht, FAH Forced Air Heat RELATED: What Does "TMI" Mean, and How Do You Use It? If your offer is accepted as a backup, youre in line to go under contract if the first sale falls through. FHA loans are different from conventional loans because they can be approved for borrowers with lower credit scores and may allow for down payments as low as 3.5 percent of the total loan amount. Please seek the services of a legal, accounting or real estate professional prior to any real estate transaction. The most credit-worthy customers (mainly large corporations), receive the best or lowest rate that the lender would offer any of its customers. Try our affordability calculator to see how much house you might be able to afford. Like, from the 50s. Try. Before you make an offer, call on an excellent inspector who can clearly explain the home's pain points. CHMS Certified Home Marketing Specialist A full bathroom is a room with a toilet, a sink and a bathtub. CCR Conditions, Covenants, and Restrictions Northwestern Mutual is the marketing name for The Northwestern Mutual Life Insurance Company and its subsidiaries. Each lending institution sets its own prime rate. One of two debt-to-income ratios that a lender analyzes to determine a borrowers eligibility for a home loan. CPT Carpet or Carport The first entry for this abbreviation on Urban Dictionary was made in 2006 and referred to it as Netspeak for baby, normally placed at the end of a text.. D/W Dishwasher Not all products and services are available in all states. Investment advisory and trust services are offered through Northwestern Mutual Wealth Management Company (NMWMC), Milwaukee, WI, a subsidiary of NM and a federal savings bank. He also works as a digital marketer for a regional e-commerce website. The CRS designation indicates a triple threat - on average, these agents have been in business three times longer, have three times the amount of transactions, and generate three times more sales revenue than the average . STR On Street Parking All Rights Reserved. SCRND PORCH Screened Porch HVAC heating, ventilation and air conditioning Read more about PMI here. GNMA Ginnie Mae or Government National Mortgage Association Cloudflare Ray ID: 7a28359a3f44c34a Its customary for the buyer to pay for the lenders title insurance policy. The base rate is set by the Federal Reserve and then customized per borrower, based on credit score, down payment, property type and points the buyer pays to lower the rate. MLS:Multiple Listing Service. WDSTV Wood Burn Stove NGS Natural Gas HW Hot Water A "default" occurs when a borrower does not make his or her mortgage loan payment and falls behind. Usually, the realtor's website will give a good description without the real estate abbreviations. It is not Zillows intention to solicit or interfere with any established agency relationship you may have with a real estate professional. FDIC Federal Deposit Insurance Corporation Click to reveal A portion of your monthly payment goes into the. W/D Washer/Dryer Our advisors will help to answer your questions and share knowledge you never knew you needed to get you to your next goal, and the next. An MLS allows brokers to see one another's listings of. I/O Interest Only (loan) BCH Beach Deco Decorative Fence When you boil it down to the basics, real estate has a simple meaning. No purchase is necessary to view U.S. To meet client needs, to empower teammates, and to lift up communities. CDS Cul de sac A visual evaluation performed by a licensed home inspector to look for any potential defects or items of note related to the property, building(s), and the systems in a home. SQ FT Square Feet Real property is immovable property - its land and anything attached to the land. Try our debt-to-income calculator to learn more. MEIK Modern eat-in kitchen Loans from private lenders that are regulated and insured by the Federal Housing Administration (FHA). PCF Price to Cash Flow (ratio) WLKIN Walk-in Closet ROI Return On Investment CREA. Bidding wars are common. If its back on the market, theres a reason why the original sale fell through. FM RM Family Room The New Outlook Is Opening Up to More People, Windows 11 Feature Updates Are Speeding Up, E-Win Champion Fabric Gaming Chair Review, Amazon Echo Dot With Clock (5th-gen) Review, Grelife 24in Oscillating Space Heater Review: Comfort and Functionality Combined, VCK Dual Filter Air Purifier Review: Affordable and Practical for Home or Office, LatticeWork Amber X Personal Cloud Storage Review: Backups Made Easy, Neat Bumblebee II Review: It's Good, It's Affordable, and It's Usually On Sale. Real estate terms to know when you've started house hunting. In fact,44 percentof all buyersstart their search by looking at properties onthe internet., Butwith relatively new terms likeexpiredandpendingentering thelexicon,andunclearshorthandandacronymslittering listings, deciphering real estate lingo can be tricky., If youre tired of all the jargon, or just plain confused,hereare somerealestatetermsto knowsoyoucan kick off your home search without a hitch., Active:The property is currently on the market and available for sale., Active contingent:The home is under contract,meaning the seller has accepted an offer from a buyer.However,certain conditionsmust be metbeforethe sale is finalized, which are known as contingencies.Thesemight includethesellerneeding toreceivemortgage approvalorthebuyer and sellerneeding toreachan agreementabout anyrepairs afterahome inspectionis performed., Active with contract (AWC):While the propertyhas apurchase agreementpending on it, it is still availableand beingshown to other potential buyers. Please include what you were doing when this page came up and the Cloudflare Ray ID found at the bottom of this page. Terms Of Use But the cap rate is not the only metric used to evaluate a real estate investment. NAR National Association of Realtors Learn more about foreclosure here. REALTOR:Areal estate broker or sales associate who is a member of the National Association of REALTORS. SPLT Split-Level A real estate agent will request a pre-approval or pre-qualification letter before showing a buyer a home. Learn, One of two debt-to-income ratios that a lender analyzes to determine a borrowers eligibility for a home loan. It should return to active soon enough, so its certainly worth piping up if youre smitten. Most lenders will require title insurance to protect their interests should there be outstanding liens on the property securing their security interest. HomeReal Estate Abbreviations Real Estate Abbreviations A helpful list of the most commonly used real estate abbreviations, and land and property abbreviations used in most real-estate-related industries. Press F to Pay Respects: What Does F Mean Online? When this happens, he or she risks the home heading into the foreclosure process. FFBR First Floor Bedroom MCOA Min $ on Assumption 1 meaning of BB abbreviation related to Real Estate Advertising: Vote. PULL Pull-Down Attic Stair Related:The 12 Fall Home Maintenance Tasks You Can't Ignore. One of the most common uses isbaseball, where BB is an acronym for base on balls, also known as a walk. Bring vs. Take. C/VAC Central vacuum HSF Heated square feet GARD Garden HB Half Bath (toilet + sink) A ratio that compares a home buyers expenses to gross income. MYOB Mind Your Own Business I havent seen you in forever. The sale of a home by an owner who owes more on the home than its worth. A minimum requirement is often dictated by the loan type. INLW In-Law Suite An MLS is an organization that collects, compiles and distributes information about homes listed for sale by its members, who are real estate brokers. 4/3 4 bedrooms / 3 bathrooms EIK Eat in kitchen RAD Radiant Heat If they were not used, the ads for a home could get quite lengthy. A basic assessment of income, assets and credit score to determine what, if any, loan programs a borrower might qualify for. Membership isnt open to the general public, although selected MLS data may be sold to real estate listings web sites. PL, SP, S/P Swimming pool When used in a real estate listing, the words cozy or charming aren't describing the ambiance of the space so much as the size. It's a piece of land and the property - such as a house, office building, apartment, strip center or warehouse - that sits on it. Keep reading to learn more about this unique abbreviation. FIN LL Finished lower level POR, POR-S Porch/Screened 4B/2B:Four bedrooms and two bathrooms. Learn more. There are four important items that must be included in a buyer's pro forma. OFC Office/Study and END End Unit MLS - Multiple Listing Service; database of real estate for sale, Smart -a computer controls some electronic devices like heating, alarms, and lights, CCIM Certified Commercial Investment Member, PITI principal, interest, taxes and insurance, CCR conditions, covenants, and restrictions, ACRP - Association of Commercial Real Estate Professionals, CHMS Certified Home Marketing Specialist, CLHMS Certified Luxury Home Marketing Specialist, FDIC Federal Deposit Insurance Corporation, FEMA Federal Emergency Management Agency, FHLMC Freddie Mac (Federal Home Loan Mortgage Corporation), GNMA Ginnie Mae (Government National Mortgage Association), REALTOR Member of the National Association of Realtors. SPKLR Sprinkler Cdrcl Cedar Closet Refund Policy, U.S. GRI Graduate REALTOR Institute DhkpP Dryer Hookup Percentage (P): The first digit being the full percentage point and the second digit being the partial percentage (no decimal is used). The components of a monthly mortgage payment. OP Occupancy Permit 27. A not-for-profit professional association that sets and promotes standards for property inspections. UPF, UPR Upper floor Keep this five-part guide handy youll be fluent in the language of home buying before you know it. This is the escrow period, when both buyer and seller are workingtoward a closing. DOS Due On Sale Clause OVER Oversized Garage 1. MTG Mortgage Be sure to read the fine print carefully. Read our stress-free guide to getting a mortgage. If you have made your required monthly payments, at the end of the loan term (e.g., 15 or 30 year mortgage), you will own your home. Expansion potl:Expansion potential mean that theres extra space on the lot or the possibility of adding a room or even an upper levelsubject to local zoning restrictions. "Bedroom" usually means a sleeping area with a window and a closetin some areas, laws define what a room needs to be called a bedroombut the . 3/4 Bath toilet + sink + shower or tub UTRM Utility Room MULTI 3+ Car Garage 2023 All Rights Reserved. Maximum loan amounts can vary by county. TXS Taxes The fascinating story behind . MLS Multiple Listing Service Addendum to Purchase Agreement COVID-19 EVENT EXTENSION, AA Public Schools - Attendance Area by Street directory, Presenting and Negotiating Multiple Offers, Washtenaw County Resources & Millage Rates, How to Pick the Best Home Inspectors and Appraisers, P35C25 (3.5% offered on the first 100K, 2.5% offered after $100,000), B1000/APT/010113 ($1000 Bonus on Accepted Price & Terms Offer Good until January 1, 2013), B1000/FPT/010113 ($1000 Bonus on Full Price & Terms Offer Good until January 1, 2013). Like other shorthand slang terms in text messages, this abbreviation is primarily written in the lowercase bb rather than the uppercase BB. On top of that, many acronyms use the uppercase BB, while the lowercase version almost exclusively refers to baby. BB is already an abbreviation of a fairly short word, so some people ditch the shorthand altogether and use baby or babe. Alternatively, you might see some people use variations such as bby, b2, or even just b., While baby has been a pet name for a romantic partner long before the internet age, the widespread use of BB is pretty recent. BKPORCH Back Porch OO Owner Occupied An FDR with a DK? It may have received offers, but none have yet been accepted, which means that the opportunity is wide open. When used in a real estate listing, the words "cozy" or "charming" aren't describing the ambiance of the space so much as the size. HML Hard Money Lender Cont Contemporary A minimum requirement is often dictated by the loan type. A house located in a quiet location may be slightly off the beaten trackor, it may be out-and-out secluded. Read more about pre-qualification here. Buyers should budget for an amount that is 2% to 5% of the homes purchase price. FRBO for rent by owner These institutions underwrite as well as set home loan pricing in-house. Bsmt Basement SHOP Workshop Home affordability takes into account your income, down payment, and monthly debts. A government-sponsored enterprise chartered in 1938 to help ensure a reliable and affordable supply of mortgage funds throughout the country. Learn more about short sales here. You can also use BB as a platonic but affectionate nickname for a friend, especially if you have a strong and established friendship. SEC Security System Read more about closing costs here. ATFN Attic Fan Tiny houses are a trend, for sure. There are several actions that could trigger this block including submitting a certain word or phrase, a SQL command or malformed data. Crprt Carport CNS Certified Negotiation Specialist Fees imposed by the state, county or municipality on transfer of title. GAROP Garage Door Opener Other internet-specific definitions for BB include bye-bye, a largely defunct acronym that was more common in the early days of the internet. DTI Debt to Income Ratio Percentage (P): The first digit being the full percentage point and the second digit being the partial percentage (no decimal is used). Or comparable sales, are homes in a given area that have sold within the past several months that a real estate agent uses to determine a homes value. Real estate abbreviations are important to save time and money. The terms are frequently seen in advertising of bed & breakfast inns for sale: "turnkey," "mostly turnkey," "real estate only," "real estate and good will.". A concrete point at which buying a home makes more financial sense than renting one. Inspection occurs when the home is under contract or in escrow. TRC Trash Compactor FEMA Federal Emergency Management Agency P&S Purchase and Sale After all, you wouldn't want to get stuck with a money pit. SMP Sump Pump The meaning of REAL ESTATE is property in buildings and land. *Based on Northwestern Mutual internal data, not applicable exclusively to disability insurance products. A state in which an escrow agent is responsible for closing. After all, custom upgrades (like any decor choice) reflect the taste of the previous owner, and may or may not be to your taste. Her work has appeared in the New York Times Magazine, Vanity Fair, and Boston Magazine. When dealing with real estate, you might also need to know things like the abbreviations for all 50 states or even common measurement abbreviations. CAC Central Air Conditioning PILE Pilings Refinancing is generally done to secure better loan terms, such as a lower interest rate. On online spaces with younger users, BB might also stand for bad b****, a term of endearment for women with a dominating personality. WIN Window/Wall Unit DOS Due On Sale Clause Used under license. A lien is a security interest that can give a creditor the right to take possession of a property secured by a loan, such as a mortgage, when the borrower defaults on the loan obligations. Reading real estate advertising acronyms can sometimes feel like trying to parse ancient Greek: EIL with a W/D? That could mean the seller is still open to accepting an offer, so its worth touching base if your curiosity is piqued. GRT RM Great room A prepayment penalty is a fee some lenders may charge if you pay off some or all of your mortgage early. TIL Truth In Lending, A/G PL Above-ground Pool BB is most commonly used on the internet (and in text messages) as an abbreviated form of baby. However, baby in this context is used as a pet name or term of endearment for your romantic partner and not an infant child. Contingent vs. under contract? BLT Built-in The seller has an agreed-upon contract with the potential buyer. There is no MLS covering the whole country. How have you been?. Real estate owned (REO) properties are homes that have fallen under the ownership of a mortgage lender or investor, typically because the property failed to sell at auction. Read more about back-end ratio here. Organizations can include local governments, utility companies, and homeowners associations. DLM Seller Disclaimer 4 Misconceptions Buyers and Sellers Have About the Housing Market, 10 Hottest Housing Markets of 2023, and What to Know if Youre Shopping in One, 13 Home-Buying Myths to Unlearn Right Now, 10 Hottest Housing Markets of 2023, and What to Know if You're Shopping in One, Do Not Sell or Share My Personal Information, 442-H New York Standard Operating Procedures. Read, A prepayment penalty is a fee some lenders may charge if you pay off some or all of your mortgage early. How-To Geek is where you turn when you want experts to explain technology. Related:7 Features That Define the New American Home. Since many phrases can be shortened to BB, this acronym might refer to other things online. DWF, DWAC Deep Water/Access NOO Non-Owner Occupied If not, it could end up back on the market, so go ahead and inquire if youre interested. TRAD Traditional BR Bedroom STOR Assigned Storage This happens when the catcher manages to catch four pitches that classify as a ball, and the batter gets to move to first base without the danger of going out. You might also see the acronym BB%, which stands for base on balls rate its the statistical frequency that a pitcher will allow a batter to walk. What Does FS Mean, and How Do You Use It? Affordability or home affordability refers to the amount of money you can comfortably afford to spend on a home. MO Month These abbreviations are typically written in all capital letters. The "P" represents percent. SD Security Deposit Zkratka ESG (z anglickho Environmental . Products and services referenced are offered and sold only by appropriately appointed and licensed entities and financial advisors and professionals. HOA Homeowners Association 1C, 2C 1 or 2 car Garage SFH Single Family House EA exclusive agency Baseboard Heat + 2. Business, Property, Real Estate Advertising. MBA Master Bedroom w/Bath PITI Principal, Interest, Taxes and Insurance SEC SYS Security System W/D HKUP Washer/Dryer hookup Cloudflare Ray ID: 7a2835264c3fdd54 The Mission of the Ann Arbor Area Board of REALTORS:To strengthen our REALTOR community through advocacy, collaboration,education, innovation and civic engagement. HBR Harbor Closing costs are generally paid through escrow. BB is ubiquitous in modern relationships between young people, where direct messages and chat apps are primary forms of communication. Foyr Foyer CLTV Combined Loan To Value An encumbrance is a claim that limits how a property owner can use their property. Crystal R. These structures can be both above and under the ground. Cth Cathedral Ceiling Prime rate is the interest rate charged by a lender to customers who are the least likely to default on their loans. JTUB Jetted Tub OFF Off Street Parking PVT Private Prepaid interest owed at closing, with one point representing 1% of the loan. A deed is the legal document that establishes ownership of real property, and is also used to transfer the ownership of real property to another person or entity. The action you just performed triggered the security solution. Chn Chain Link Fence If you have the money to hire a handyman for every household woe, go ahead. A certain portion of the homes purchase price that a buyer must pay. SHNG Shingle GAR Garage BB Real Estate Abbreviation. A home loan not guaranteed by a government agency, such as the FHA or the VA. Read more about conventional loans here. COCR or CCR Cash on Cash Return Whether you are looking at abbreviations or acronyms for real estate terms, be sure you clearly understand what they mean when referring to a specific piece of real estate. Read more about, escalation clauses and making an offer on a home, An account required by a lender and funded by a buyers mortgage payment to pay the buyers homeowners insurance and property taxes. Disclosure: BobVila.com participates in the Amazon Services LLC Associates Program, an affiliate advertising program designed to provide a means for publishers to earn fees by linking to Amazon.com and affiliated sites. G-RNG Gas Range DBA Doing Business As Its a set of lender-specific fees that are part of your costs when closing a mortgage loan. Disclaimer: ActiveRain, Inc. does not necessarily endorse the real estate agents, loan officers and brokers listed on this site. Commonly Used Real Estate Abbreviations and Acronyms for compiled and available to the public. Abbreviations on the list may have capitalization variations. LFT Loft Fp, Fpl, Fplc Fireplace REALTOR Member of the National Association of Realtors GRI Graduate Realtor Institute SKY Skylights PAT Patio Fixture:Anything of value that is permanently attached to or a part of real property. Thats why when you read a real estate listing, you may end up scratching your head over a whole bunch of puzzling terms. 7 meanings of BB abbreviation related to Real Estate: Real Estate. 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 owners home. This was when the term exploded as a pet name between both lovers and friends. Real estate is considered real property that includes land and anything permanently attached to it or built on it, whether natural or man-made. VYL Vinyl Related:9 Ways Your Neighbors Can Screw Up Your Home Sale. CLHMS Certified Luxury Home Marketing Specialist Crwl Crawl Space A thorough assessment of a borrowers income, assets and other data to determine a loan amount they would qualify for. CFan Ceiling Fan CFD Contract for Deed 4/3/2 4 bedroom / 3 bath / 2 car garage, ABR Accredited Buyer Representative Prices are often higher than average. It may also give the breakdown of the number of floors, size of the rooms and their location within the home. This is the most popular NAR official designation and is relatively easy to get and maintain. PMI Private mortgage insurance PRO Internet Professional LPOA Limited Power of Attorney While BB can have a lot of meanings on the internet, the most popular is a pet name between romantic partners and close friends. A concrete point at which buying a home makes more financial sense than renting one. Whether you're ready to buy your first home or just need an acronym refresher, keep this glossary handy. A portion of your monthly payment goes into the escrow account to cover taxes and insurance. COO or C of O Certificate of Occupancy GLF Golf Course You can also use BB as a platonic but affectionate nickname for a friend, especially if you have a strong and established friendship. PRV, PVCY FENCE Privacy Fence Please switch to a supported browser or download one of our Mobile Apps. County real estate and property records abbreviations and acronyms: AD Administrator's Deed Notice. LLC Limited Liability Company FHA loans are different from conventional loans because they can be approved for borrowers with lower credit scores and may allow for down payments as low as 3.5 percent of the total loan amount. Bulk Bulkhead Dk Deck A CMA is a report that shows prices of homes 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. A real estate agent will request a pre-approval or pre-qualification letter before showing a buyer a home. PICK Picket Fence If you hang around social media circles and forums that talk about TV, BB might also stand for Big Brother, a prominent reality show franchise involving a group of strangers living together in the same house. Private Mortgage Insurance or PMI, is a monthly mortgage insurance premium paid by a borrower for a mortgage insurance policy. After the set time period your interest rate will change and so will your monthly payment. Since we launched in 2006, our articles have been read billions of times. AEK All electric kitchen GRES Graduate Real Estate Society BKYD Backyard REAL ESTATE DEED ABBREVIATONS AND ACRONYMS. The amount of the loan divided by the price of the house. Real estate agents and other real estate professionals often need to have specific certifications and may work with or belong to different associations or groups. RNCH Ranch Examples of contingencies are home inspections, attorney review, the buyers financing, appraisal, and title search, among other reasons. This type of limit can also allow the property buyer to back out of the sale and possibly seek damages in . Performance & security by Cloudflare. The Long and Short of It, The Ultimate Real Estate Glossary for Homebuyers. What Is a Short Sale? The property is sold and no longer available. Zillow, Inc. holds real estate brokerage licenses in multiple states. YD Yard Read, more about the Buy-Rent Breakeven Horizon here, The sale of a home by an owner who owes more on the home than its worth. RELO Relocation office Questions And Answers Hi ceils - This is an abbreviation for "high ceilings.". When searching for a home or applying for a mortgage, you may hear your real estate agent or lender use any of the terms or acronyms below. REF Refrigerator Typically, putting away 5% of the rent . The ratio compares total housing cost (principal, homeowners insurance, taxes and private mortgage insurance) to gross income. A homeowners insurance policy that pays the replacement cost of a home, minus depreciation, should damage occur. The trademarks MLS, Multiple Listing Service and the associated logos are owned by CREA and identify the quality of services provided by real estate professionals who are members of CREA. GRM Gross Rent Multiplier A security deposit made by the buyer to assure the seller of his or her intent to purchase. Exr Exercise Room For listings in Canada, the trademarks REALTOR, REALTORS, and the REALTOR logo are controlled by The Canadian Real Estate Association (CREA) and identify real estate professionals who are members of CREA. A half bathroom or powder room has only a toilet and a sink. An encumbrance is a limit on how an owner can use real estate. Read, An adjustable-rate mortgage, or ARM, has an introductory interest rate that lasts a set period of time and adjusts every six months thereafter for the remaining loan term. So if you adore what you see in thelisting, it certainly canthurt to inquire. The Compensation is entered in the Compensation Code fields of BB (Buyer's Broker), SU (SubAgent), and/or TR (Transaction Coordinator). Step 1: Buy a duplex property for $100,000 in a neighborhood where the average home price is $200,000. Learn more about HOAs here. Back Bay. AG Agreement Agreement Comm. Brk Brick U/G SPRK Underground Sprinkler FFE furniture, fixture, and equipment . Copyright 2023 Acton Media Inc. All rights reserved. Try our amortization calculator to learn more. A real estate agent will request a pre-approval or pre-qualification letter before showing a buyer a home. A policy that protects the structure of the home, its contents, injury to others and living expenses should damage occur. ELE Electric ELV Elevator CAC Central air conditioning CCR Conditions, Covenants, and Restrictions There are often additional notes with details that don't fit into the standard listing formula. Farm Farmhouse It's anything that can be subject to ownership, except land. These real estate profiles, blogs and blog entries are provided here as a courtesy to our visitors to help them make an informed decision when buying or selling a house. RPAC Realtors Political Action Committee Repairs. Contingency:A provision of an agreement that keeps the agreement from being fully legally binding until a certain condition is met. CVAC Central Vacuum LOC Line of Credit Read, A property repossessed by a bank when the owner fails to make mortgage payments. 2/1 2 bedrooms / 1 bathrooms SRO Single Room Occupancy Your IP: Clap Clapboard Siding A process a lender follows to assess a home loan applicants income, assets and credit, and the risk involved in offering the applicant a mortgage. Step 2: Through your cost estimation, you figure out that $30,000 of investment will bring the property to a rental-ready state over the next 4 months. WIC Walk-in closet, ARV After-Repaired Value Most real estate agents use similar abbreviations as part ofreal estate lingo, so once you get the jist, you can read any listing with confidence. Learn, Study these real estate terms when youre applying for a mortgage, Real estate terms you might hear when youve had your offer accepted, more about adjustable-rate mortgages here, The 12 Most Popular Vacation Towns for Home Shoppers.