11/20/2019By Realopoly staff
Real estate acronyms
Real estate lingo explained 
Have you ever read a property listing description and couldn't quite figure out what some of the terms meant? You are not alone. Don't feel bad - even the HUD Secretary, Ben Carson, couldn't figure out the meaning of an REO. Sometimes real estate agents like to pepper their sentences with terms that seem to have an obvious meaning to them, but which are often foreign to many consumers. Let us demystify the most common ones here.
HUD - Housing Urban Development (government entity)
REO - Real Estate Owned (by a bank, also known as a foreclosure property - not to be confused with Oreo cookies)
EIK - eat in kitchen
KIT - kitchen 
FHA - Federal Housing Authority (government entity, responsible for guaranteeing mortgages for home buyers with low downpayment/low credit score)
HOA - home owners association (usually found in community developments) 
PMI - private mortgage insurance
HWF - hardwood floor
HW - hot water 
HSE - house 
WBF - wood burning fireplace
FRPLC - fireplace
TLC - tender loving care (the property needs work!) 
W/D - washer and dryer
ELEV - elevator or elevation
AVAIL - available 
FAR - floor area ratio
FDR - formal dining room 
FIN - finished 
FSBO - for sale by owner
BSMT - basement
BLDG - building
BALC - balcony 
CofO - certificate of occupancy
CMA - Comparative Market Analysis (prepared by agents to assess the potential sale price of a property) 
CEIL - ceiling
COOP (or co-op) - cooperative ownership 
SF - square footage 
GAR - garage
PVT - private
APT - apartment 
APR - annual percentage rate (= interest rate on a loan) 
PRTL - partial
REC - recreation
REQ - required 
RENO - renovated
REFRG - refrigerator 
MLS - Multiple Listing Service (~ property listing clearing house)
MRBL - marble
NBHD - neighborhood
NGS - natural gas 
GRNT - granite 
PUD - planned unit development
PKG - parking 
DPLX - duplex
DCK - deck
DOM - days on the market (how long a particular property has been offered for sale or lease) 
CFAN - ceiling fan 
INCL - included
BOM - back on the market (when a property that was previously off the market becomes available again)
DET - detached
DTI - debt to income ration (used by lenders to assess one's credit qualifications) 
DR - dining room
LR - living room 
TERR - terrace
OFC - office 
SHWR - shower
HVAC - heating, ventilation, air conditioning 
UTILS - utilities 
VU -view
VA - Veteran's Administration
LA - listing agent 
WIND - window
WLKP - walk-up