What exactly do the "condition" fields mean in the Multiple Listing Service? Although these conditons are subjective, these are the guidelines used for properties listed in the MLS System under the guidelines of the New Orleans Metropolitan Area Realtors:
NEW: New Construction; never occupied.
EXCELLENT: No functional inadequacies of any consequence and all major components in like-new condition. The overall effective age has been substantially reduced upon complete revitalization of the structure regardless of the actual chronological age.
VERY GOOD: No obvious maintenance required but neither is everything new. Appearance and utility are above the standard and the overall effective age will be lower than the typical property.
AVERAGE: All major components still functional. Some evidence of defered maintenance and normal obsolescence with age in that a few minor repairs are needed.
FAIR: Badly worn, much repair needed. Many items need refinishing or overhauling, deferred maintenance obvious, inadequate building utility and services all shortening the life expectancy and increasing the effective age. Post Katrina gutted.
POOR: Excessive deferred maintenance and abuse, approaching abandonment or major reconstruction.