They say that language reflects culture, and certainly, the difficulties in the real estate market are showing up in the list of new words for this year. If you’re buying or selling Santa Cruz real estate, you may already have taken note of some of these new words. Here are three for your consideration:
Water: Not Just For Swimming Anymore
According to the keepers of the language flame at Merriam Webster, “underwater” has a new definition. “Underwater” now officially also means "having, relating to, or being a mortgage loan for which more is owed than the property securing the loan is worth."
Many people in underwater mortgages are choosing to delay selling until their home value comes back up. The good news is that values are indeed rising again, so