A “LIBOR ARM” sounds vaguely related to a frozen shoulder. It’s not. Pronounced “Lee′-bore,” it stands for the “London Inter-bank Offered Rate,” a widely used benchmark (or peg) for setting mortgage rates and other debt. Meanwhile, “ARM” stands for “Adjustable Rate Mortgage.” Definition, Please What does all that mean in practice? A homeowner with a...Read More
Or Should That Be, “Whddya Know?!?” “What do you know?!” might very well be the Swiss Army knife of expressions. I count no fewer than five different meanings: #1. What do you know about something nefarious; accusatory. Police to burglary suspect: “a Rolex watch is missing from the hotel room; what do you know [about it]?” #2....Read More
The “You Know it When You See it” Test While it’s true that every Mid-Century Modern home was built in the 1950’s (or thereabouts), it’s decidedly NOT the case that every home built in the 1950’s is a “Mid-Century Modern.” In fact, in real life, very few are. On MLS, for every home that I...Read More
Real Estate Terminology 101 “Final acceptance” sounds like something that happens in a hospice, or perhaps what Woody Allen has been seeking in therapy all these years. Fortunately, the real estate version is not so macabre: it’s just a fancy way of saying, “Done Deal!” “Signed, Sealed, & (Constructively) Delivered” Specifically, “Final Acceptance” refers to...Read More
“Ball & Chain” vs. Source of Stability/Emotional Support A “contronym” is word that is its own antonym. Examples include the word “left” (“the gentlemen have left and the ladies are left”); “off” (“to turn off,” but also “activate,” as in “the alarm went off”); and “sanction” (both “approve” and “punish”). So, what do you call...Read More
Doesn’t “FD” Stand for “Fire Department?” “Things should be made as simple as possible ” but not simpler.” —Albert Einstein I’m all for making things simpler when it comes to real estate terminology. But, there comes a point where it . . . becomes kind of silly. Exhibit A: showing instructions that refer to the...Read More
