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You know you want to buy a new home or sell your current one. That should be enough to get you started, right? The lingo used by many realtors* can make the whole process sound a lot more complicated than that.

Learning a few key terms will put you a step ahead of all the other buyers and sellers out there. Here are a few of the most commonly misunderstood real estate terms:

1. Good-Faith Estimate

A Good-Faith Estimate is given by the escrow officer during the sales process to predict how much money will be due when you close on the property. The exact amount can vary — hence the word “estimate” — so buyers should always save a little extra money to make sure they’re prepared for the final closing costs.

2. Pre-Approval

People often think getting pre-approved for a loan is like having money in hand. While it does open the door for you to shop, it’s not a guarantee, and things can always change during the buying process. The loan is not yours until you close. Buyers should be conservative with their credit and their time… don’t go out and buy a car before you close the deal.

3. The Comp

For sellers, the word “comp” can cause a lot of confusion. A comp is a comparable property. It’s likely around the same size and in a similar area or complex. It’s helpful when it comes to pricing your property to sell. Although you can go online to various websites and find comps, most are not in real time or super accurate. For a more holistic look at the market, real estate agents will do a CMA (Comparative Market Analysis). As a realtor, I combine my knowledge of the local market with a variety of factors of comparable properties to give you a CMA.

4. MLS

The Multiple Listing Service (MLS) was developed by realtors in the early 1900s to make the transaction process more efficient. It’s a real time collection of regional databases of homes currently for sale. Sellers’ agents post properties that are for sale, while buyers’ agents share links to these properties with their clients. Having all the listings in one place is a win-win for buyers, sellers and realtors.

5. Agent/Realtor®/Broker

They sound the same, and you’ve heard of each one… they do the same thing, right? Not so fast. A real estate agent is licensed to help people buy or sell properties. They take classes and must pass an exam in the state they work in. A Realtor® is a trademarked term for a real estate agent who belongs to the National Association of Realtors and follows its strict Code of Ethics. A broker is generally required to have more education and experience than real estate salespeople or agents. A broker can deal directly with home buyers and sellers, or they might have staff or agents working for them. I’m a broker and a realtor.

Most people hire a realtor without understanding what the job entails… It’s much more than just showing properties. Ask for testimonials from previous clients to see which real estate agent, realtor or broker is a good fit for you.

Learn more in my Ultimate Home Buyer’s Guide or Ultimate Home Seller’s Guide. If you’d like to talk, call me at (760) 914-4664.

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44 Wagon Wheel Drive
Sunday, October 2
4 PM - 6:30 PM

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Fall is here! Happy colors in the mountains!

I don't think most people realize how beautiful it is -- nice weather, fewer people and fall colors. So much to love!

Go to Mono County Tourism to sign up to find the best places to see the beautiful fall colors!

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Late Friday afternoon walk with our 2 houseguests. #lovewherewelive #mammothlakes #visitmammoth ...

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Sonja recently helped me purchase a condo. My experience with her was only positive. She's knowledgeable, thorough and friendly. She is the consummate professional and the standard to which I would hold any real estate agent. - Alexander R.

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Time isn’t always on your side, especially if you’re trying to time the real estate market.

Some homeowners postponed selling while they waited for prices to hit their peak. Here’s why you shouldn’t wait any longer:

💲The market is unpredictable — even experts can’t guarantee what it will do next!
☑️ You could pay more to buy your next home the longer you delay.
🤝 It’s still a great time to sell, but rising mortgage rates are beginning to slow down demand.

You can’t control the real estate market — but you can control when you put your home up for sale 🏡

Contact us to start a conversation about the right time to make your move.

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BIG bright windows are the main attraction in this spacious 2 bed/2 bath condo in St. Anton. This complex is next door to Canyon Lodge – one of the shortest walks of any Mammoth location! Come see this condo today and get ready for the best winter season of your life!

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If you're renting but plan on buying a house in the near, don't renew your lease without going month-to-month or making sure you can cancel it by giving your landlord a month or two notice.

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Thursday, September 29
9 AM - 11 AM

Stop by and tour 3 amazing Mammoth Lakes Properties tomorrow!!!

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Beautiful sunset tonight.

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Sonja was very knowledgeable and competent in selling our house in Mammoth. She is very personable and answered all of our numerous questions with courtesy, humor, and patience. Despite a greatly slowed real estate market, she sold our house in a reasonable time frame. - Stuart F.

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#nofilter Sunday evening neighborhood stroll. ❤️reflections, water, blue skies and fluffy clouds ☁️ #lovewherewelive ...

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If you have a light fixture you want to keep and take with you to your next home, take it down and replace it before you put your house on the market. You can also leave it up and "exclude" it from the sale within your listing, but it can cause issues if a buyer sees it and wants it. Avoid problems by removing it ahead of time.

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Beautiful day at the village. I love the clouds and like to look for shapes or object -- what do you see?

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Amazing two-bedroom condo next door to Canyon Lodge! Ski all season long in this cozy mountain home!

Properties Link Below:
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Hope everyone is having an amazing time at the Mammoth Trail Fest! If you haven't already make sure to check out this awesome event the rest of the weekend!

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Beautifully updated two-bedroom slope side condo just listed for sale. Check it out!

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What does “Months of Supply” tell us about the market?

To break it down simply:

📊Balanced Market = 6 to 7 months of supply
There are a relatively even number of buyers and sellers.

📈Seller’s Market = Fewer than 6 months of supply
There are more buyers than homes for sale, thus sellers hold the upper hand.

📉 Buyer’s Market = More than 7 months of supply
There are more homes for sale than willing and able buyers, thus buyers have more negotiating power.

Have a question about current market trends? Reach out at any time! We’re here to help you decode the lingo and make the most of today’s market 👨‍💻

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