You can frequently encounter “circa” in everyday discourse, referring to an approximation as an approximate date. Variations of circa are: about, near, and roughly.
The most common example in everyday life occurs when a person wishes to mention something about an event in the past. Still, they are not sure about the exact date. The accuracy of the given time is inadequate. Thus, they refer to it as “circa,” followed by a rough date. For example, the US economy began to thrive circa at the beginning of the 19the century.
Circa doesn’t imply only unspecified time. You can use it for an unknown fact, such as a real estate agent’s salary was circa $90,000 after commissions in 2018. It’s not the exact figure but an estimate, a rough approximation.
A brief history of circa
The word circa is a derivative of the Latin word meaning approximately or around. You can abbreviate circa as “ca.” or “ca,” while it can infrequently appear as: “c.”, “circ.” or “cca.” Also, linguists traced back the word circa to the Roman word circus, or, in other words, circular, round arena.
What does circa mean in real estate?
The meaning of circa in real estate signifies an estimate, an educated guess, or a rough assessment of a home’s specific feature. As we previously mentioned, circa does not describe a piece of precise and accurate information. For this reason, participants in a transaction shouldn’t use it when referring to essential, concrete, and measurable real estates aspects, such as land surveying and home sizes.
As opposed to factual aspects, we can use circa to estimate something more ambiguous, such as real estate prices, before evaluation.
When home sellers use circa presenting their property, it mirrors unprofessionalism and the lack of exact knowledge. The home buying process and the series of actions leading to a home sale should be based upon one hundred percent accurate facts.
How to be precise in real estate transactions?
There are solutions to combat rough estimates. First and foremost, contact local real estate agents to see accurate information on the property you wish to sell or buy. Realtors will assist you in uncovering actual property documents, namely, deeds, property tax reports, and mortgage records.
Establish your property’s worth!
As we know, there are various factors determining a property’s worth. Because many elements are flexible and altering, no one can say the exact sum you will receive for your real estate after selling. Therefore, you can refer to your home’s worth using circa as an estimate.
By all means, you must consider neighborhood comps, namely recent real estate sale prices in your vicinity. Secondly, location is a substantial determinant of homebuyers moving into your neighborhood. They will examine local schools, working opportunities, and nearby entertainment, recreational, and shopping centers. Thirdly, home size and its accessible space will be decisive.
Next, they will look at your home’s age and condition. For this reason, we recommend updates, upgrades, and DIY home refurbishments to increase your home’s worth!
Finally, the local market influences your property’s value that you can’t control. In short, you’ll have to study all these aspects and estimate circa how much you can get for your property!
Popular Real Estate Terms
A collection of packaged residential mortgage loans for sale in the secondary mortgage market to investors. Companies with mortgage pools expect to earn a short-term profit and use the ...
Analysis of the risks and rewards to an individual in making a particular property investment. Investment analysis considers the cost of the original investment, the investment return over ...
Monitoring and administrating a mortgage lien after it has been made. This may include monthly payments, record keeping, handing tax and insurance record, and foreclosure of property. A ...
Limit on how much a borrower's payment can increase. ...
Negative characteristics about real property which do not meet the needs of the usual occupant. Examples are inadequate lighting in the rooms and a one-car garage when a two-car garage is ...
The coefficient of dispersion is how municipalities can determine differences between the assessed values of properties in an area or neighborhood. It gives a broader look at the state of ...
Statement made by a person that is not in writing. An example is an oral representation made by a real estate broker to a prospective buyer of property. ...
A shallow yet funny definition of a tax specialist is someone who loved math since 1st grade. He or she has an elephant’s memory and is always up to date with the regulations and ...
Simply put, probate is a legal proceeding whereby the will of a deceased is tested for validity. The definition of probate is not known to most Americans. According to a Gallup survey, ...
Have a question or comment?
We're here to help.