"عِنْد جورْج بَيْت."
Translation:George has a house.
That is correct, the little circle is called suqoon and means there is no vowel sound. But there are kind of theee special cases where the letters themselves are used as elongated vowels, which are ا for aa, ي for ii (but ee more accurate sound), and و for oo. When those letters are used for elongation then you can see suqoon on it, but absence of vowel mark is also understood as suqoon