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Q: Pride of Ownership? ( Answered 5 out of 5 stars,   3 Comments )
Subject: Pride of Ownership?
Category: Family and Home > Home
Asked by: boinger-ga
List Price: $2.00
Posted: 20 Apr 2004 07:22 PDT
Expires: 20 May 2004 07:22 PDT
Question ID: 333040
in real estate, what is "Pride of Ownership"?
Is it something specific, or just lame marketing crap?
I keep seeing that exact phrase (often capitalised) and I can't figure
out if it's some kind of movement or organization or what.
Subject: Re: Pride of Ownership?
Answered By: thx1138-ga on 20 Apr 2004 08:12 PDT
Rated:5 out of 5 stars
Hello boinger and thank you for your question.

"What is pride of ownership?"

"Pride of ownership is a psychological benefit to owning rather than
renting. It is reflected in well-maintained property. A price cannot
be attached to this subjective value, and its importance will vary
from person to person. However, an area with a high degree of pride of
ownership is readily apparent."

In other words, when you asked "Is it something specific, or just lame
marketing crap?" it is the latter of the two.

It reminds me a little of the Simpsons episode when Marge tries her
hand at selling real estate.  Her new boss is showing her a brochure
of various houses that are for sale:

"The first featured house is extremely small.]
 Marge: It's awfully small...
Lionel: I'd say it's awfully.. cozy!
 Marge: That's dilapidated...
Lionel: Rustic!
 Marge: That house is on fire!
Lionel: Motivated seller!
        [The next house is a large, beautiful mansion.]
 Marge: That's a beauty!
Lionel: [closes book] Forget about that house, that's the murder house."

Other real estate terms along similar lines are:

"Sophisticated city living: Next to a noisy hostess bar. 

Country feel in the city: Neighbors have chickens. Late sleepers need not apply. 

Motivated seller: Has been on market 14 years; owner has died. 

Traditional with contemporary flair: Collapsing plantation home with
three picture windows.

Newer roof: Original thatch has been patched with spray-on tar. 

Old world charm: Has some woodwork. Needs cleaning. 

Not a drive-by: Exterior is falling off. 

Drive-by: Interior is falling off. 

Needs TLC: Major structural damage. 

Handyman special: Earth moving equipment is required to get to front door. 

Fixer-upper: Quick, before it falls down. 

Two-story foyer: Hall ceiling has fallen in. 

Convenient: Located on freeway entrance ramp. 

Mint condition: Someone has spilled mouthwash on the carpet. 

Completely renovated: All cats have been found and removed; toilets now flush 

Natural decor: Beach mats stapled to walls cover murals of nudes and Elvis. 

Move in easy: Front door missing. 

Walkout: Back door missing. 

Tudor: Has back door and front door. 

Really plush: Five rooms of orange shag carpeting. 

Bachelor pad: Red velvet walls; smells bad. 

WOW!: Do not go in alone! 

Curb appeal: Only the front of the house is painted."

Thank you for your question, and if you need any clarification of may
answer do not hesitate to ask.

Very best regards.


Search strategy included:
"Pride of Ownership"  "real estate glossary"
boinger-ga rated this answer:5 out of 5 stars and gave an additional tip of: $2.00
Excellent answer.

That's what I thought :)

Subject: Re: Pride of Ownership?
From: joseph4610-ga on 20 Apr 2004 09:11 PDT
Did you see today's Dilbert?
Subject: Re: Pride of Ownership?
From: thx1138-ga on 20 Apr 2004 09:17 PDT
Hello again boinger.

Just a note to say thank you for the five stars and the tip!

Very best regards

Subject: Re: Pride of Ownership?
From: pugwashjw-ga on 21 Apr 2004 05:23 PDT
Advice based on personal experience....Except for the first few years
following marriage, we rented. Then taking own parents advice, [who
purchased a simple government sponsored house on basically what was
swamp, and owned it for the full term of his life] I did the
same.Bought in at $8,000 in 1967, sold for $14,000 in 1974. Parents
bought in at $3,000 in 1946, same house, same block sold in 2002 for
$675,000. Position, Position. Wife and I bought 30 year old house in
GOOD suburb in 1997. Stuck our necks out in repayments, but five years
on, in 2002, sold for a shade over twice the price. And all we did was
some paving and painting. The painting just before we sold. Did the
same in our present place, but only been here a short time. Changed
the yard from gravel to paving, built a good shed and a nice patio.
Added $50,000 to the value. The moral of the story..Whatever it costs,
money and effort, always buy in, but crefully choosethe area. Its
better to live in a shack in a good area than a mansion in a ghetto.

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