Definition of "Circa"
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!
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