Real Estate Terminology

Real Estate Marketing 101: “Alcove” vs. “Studio” Apartment

Is an “alcove apartment” easier to rent than a “studio?” Apparently, at least one Twin Cities developer seems to think so. So far, the term only seems to be a feature of the rental market: out of almost 1,000 condo’s currently for sale on the local (NorthStar) MLS, only five use the term — and...
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“Sold?” No, “Spoken For” (or if you prefer, “Under Contract”)

When “Sold” Doesn’t Mean “Sold” At least in Minnesota, when you see a “Sold” rider above a “For Sale” sign in front of a house, it doesn’t mean “Sold” — it means “Pending.” Huh?? The (admittedly confusing) convention is to pronounce a home that’s under contract and past Inspection — but not yet closed —...
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